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Can a secondary holder be held liable for a debt after he has requested that his name be removed from the account?
The person would be equally responsible for any debt that was incurred before requesting they be removed from the account.
The answer to this question depends on what you mean by the term "secondary holder".
Any two persons who jointly sign a contract for a debt until it is paid are liable for the balance. This applies to mortgages, car loans, student loans and other types of closed-end installment accounts. There is nothing that can remove a name from the contract.
Revolving accounts, like credit cards, are different. It is possible to open an individual account and add another user, an authorized user, to the account. It is customary for this account to be shown on both person's credit bureaus files. In actuality, only the initial account holder has true liability, since only that person qualifies as a "debtor" under the strictest terms of the Fair Credit Reporting Act.
I've experienced many instances where someone's name was "removed" from an account, IN CUSTOMER SERVICE RECORDS. This has simply made it more difficult to track down the correct nature of the account and has never taken someone's name off a contract, nor relieved their contractual liability.
What else can I help you with?
Can the primary account holder remove the name of the secondary holder?
Pay off the balance and close the account. Then reopen a new account with only the primary holder.
If a person has been added as an authorized user in the past on a credit card and the primary card holder has requested they be removed as an authorized user will the account discontinue being reporte?
Yes
How can the primary account holder remove the name of the secondary account holder without closing the account?
This is usually not possible. You should check with your bank for details on their specific procedures because every bank is different. However, most banks will require you to close the account and open a new one - removing just one person is not possible. This is to remove any confusion that could occur as a result of removing someone from an account. The only times a person can be removed from an account are typically due to death or if the account is a business and an authorized signer needs to be removed for business needs.
Can the secondary card holder of a joint credit card account cancel the account?
First of all you can just give a friend your username and password and stop playing!!!
Can a primary card holder's name remove himself from an account leaving only the secondary card holder's name?
Any account that carries a balance that is owed by both parties will not go away when one party takes their name off an account. That will not work that way with the lender.
Can the primary account holder remove the name of the secondary holder?
Pay off the balance and close the account. Then reopen a new account with only the primary holder.
What are the benefits of a secondary card holder?
The benefits of having a secondary card holder on a charge account are mostly to the secondary card holder. This person can use the account, but it is the primary person that must pay the bill. Having a secondary person on an account is helpful for providing a credit card in their own names to students and spouses.
If a person has been added as an authorized user in the past on a credit card and the primary card holder has requested they be removed as an authorized user will the account discontinue being reporte?
Yes
Is a secondary credit card holder resposible for debt?
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
What is a Primary Account Holder?
Primary account holder is the person on whose name the bank account is created in the first place. Ex: Assuming you have a bank account and then once you get married you would include your spouse as a joint account holder. you will be the primary account holder and your spouse would be the secondary holder.
If the primary card holder gives a friend a secondary card to use is the secondary user responsible for the dept or is the primary card holder solely responsible?
It depends if the secondary card holder is a "Joint Account Member" or a "Authorized User". The joint account member is responsible for the balance, the authorized user is not.
Can the primary account holder remove his name from an account leaving only the secondary account holder?
Not enough information. What kind of account? What are the institutions, or the lenders rules regarding this? Was it done with criminal intent?
What is difference between primary and secondary card holder?
The major difference is that the Primary Account holder is responsible for all the amounts due on both the Primary Card and the Secondary Card.
Can you be removed as a joint account holder when you have not placed any debt on credit card?
No you must close the account.
How can you have your former husband's name removed from a line of credit that is linked to your personal checking account so he is not responsible for liablilty or credit reference?
A joint account holder cannot be removed from the account, the account will have to be closed.
How can the primary account holder remove the name of the secondary account holder without closing the account?
This is usually not possible. You should check with your bank for details on their specific procedures because every bank is different. However, most banks will require you to close the account and open a new one - removing just one person is not possible. This is to remove any confusion that could occur as a result of removing someone from an account. The only times a person can be removed from an account are typically due to death or if the account is a business and an authorized signer needs to be removed for business needs.
Can a secondary card holder remove himself from an account leaving only the primary card holder's name?
Usually, a new card is issued in the primary card holder's name. Usually both parties on a credit card have to sign off to eliminate the secondary card holder. Your credit card holder can help you with this.
