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This situation presents complicated legal problems. First of all a minor cannot legally enter into any type of financial transaction. This means that the minor's parent has committed an act of criminal fraud and can be subject to prosecution. The minor may or may not be responsible for a the debt or a portion thereof depending on the present circumstances. For example, if the minor used the account with the knowledge that a crime was being committed, or if the minor use the account once they became(become) of legal age. It is unlikely, given the circumstances cited, that the minor can be held legally responsible for the debt. It is very likely the mother will find herself to be in very serious legal difficulty.

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โˆ™ 2006-03-22 14:14:31
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Q: What can you do if your mom got a credit card when you were 15 and made you sign as the co-signer and now the card is on your credit report as a charge-off and how can you get it off?
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Related questions

Do you need a cosigner to have your own credit card?

No. Credit card companies will not give to people who have no income.


Is a cosigner on a credit card responsible after the primary dies?

Yes.


Can a credit card company collect on a debt over seven years old?

Yes. Even though the chargeoff line item should come off of the credit report in seven years, the credit card company may attempt to collect their debt for as long as they wish (assuming no fair credit collection laws are broken in the process).


Does having a cosigner help your credit?

Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.


I have bad credit and want to apply for a credit card I have a cosigner Where can I apply?

There are many types of credit cards as per your requirements.


Can I report credit card fraud if I know someone who has someone elses credit card?

Yes I believe you can report credit card fraud if you know someone who has someone elses credit card, if let's say one of your friends or family member got there credit card stolen and you also know the person who stole the credit card you can report a credit card fraud or you can just let your friend or family member report fraud on there credit card, I hope this helps :).


If the cosigner of your credit card files for bankruptcy will this effect your credit rating as well?

Yes. It's possible that the financial transaction that the cosigner was involved with (liable for) might also be affected.


If you have a credit card only in your name will it affect or show on your husbands credit report?

No, only the owner and authorized users of the credit card will be reported on the credit card company to the credit agencies. If your husband is an authorized user on the credit card then it will show up on his credit report.


Can a credit card company report bad credit on an authorized user's credit report after the death of the primary card holder?

if you are an authorized user on the card then you are responsible for the card too. so yes they can


How do you report a TJX credit card lost?

lost my tjx credit card


Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?

You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.


What is the benefit of a good credit report when applying for a Capital One credit card?

A good credit report means that one who applies for a Capital One credit card can get a better deal. First, with a good credit report one can get an unsecured card instead of a secured card. Depending on how good one's credit report is one can get better features, lower interest, and maybe even a platinum card.


Where can someone get a free credit card report?

One can get a free credit card report by going to your local bank and requesting one. A dedicated agent will help you prepare your finances for the credit report.


If a credit card company says you owe them money but it is not on your credit report do you have to pay?

If it isn't on your credit report, the credit card company still has hopes of you paying it off. When they see that isn't going to happen, you can bet your butt that it WILL be on your credit report.


What credit card companies will allow you to apply with a co-signer?

If the cosigner has a good credit rating any credit card company would be more than happy to let them cosign. All credit card companies are interested in is getting their money back. The cosigner should always be as sure as possible that the person they are cosigning for is reliable and will pay back any outstanding balance because if they don't the cosigner is 100% responsible in paying that debt back!


If you have filed bankruptcy can a cosigner help you get a credit card?

yes and so will $400 as 'security" deposit.


Does the balance on a credit card show on your credit report if you are an authorized user on that card?

In a word, yes.


If you haven't paid your credit-card debts in 7 years can you apply for a new card?

When you apply for a credit card a credit report will be ran and those credit cards you haven't been paying will be on that report. So I say no.


Free credit report with out credit cards?

Credit reports determine your credit score based on your credit card usage. Without a credit card, you'll be unable to obtain a credit report. If you are of age, it is best to obtain a credit card and use it responsibly in order to build good credit. Good luck!


Who should you call if a credit card company listed you as deceased on your credit report?

You should call the credit card company.


How do credit card companies use a persons credit report?

To determine if that person should be given a loan or credit card


How often do credit card balances get reported to your credit report?

Monthly


What can you do if a find a mistake on your credit report?

Call the credit card company


How do you remove my name from credit card from credit report?

To do that you have use whiteout


Does credit card consolidation show up on my credit report?

Yes, credit card consolidation will affect your credit score. It will show on your credit report for at least five years, it doesn't hurt as bad as bankruptcy however.