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What should you do if your brother made you a joint cardholder to help build your credit but his high balance is hurting your credit?
You can remove yourself from the account. Keep in mind that if it is a joint account you are still equably responsible for the debt incurred.
If your ex files bankruptcy on a joint credit card they were court ordered to pay is there anything you can do to protect your credit?
No. Creditors do not care about divorce settlements concerning joint debts. The person not filing the bankruptcy will be held responsible for repaying any joint debt that was incurred during the marriage. The only protection for the ex-spouse is filing his/her own bankruptcy if they cannot pay the debt.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
Is an authorized user responsible for payments on Bank of America credit card even though they never used the card or had that card activated?
Authorized users are not responsible for repaying cc charges. Unless they are a spouse of the account holder and live in a community property state. I work at a credit card company and an authorized user is just someone who is able to make charges on the account. The primary cardholderand/or the joint cardholder would be the one responsible for the bill. The payment history may be reported to your credit bureau though. That does happen with some companies.
Can you be held responsible for credit card debt even if divorce decree states that you are not responsible for paying it?
Divorce Decrees never supercede the original card holder contract. If it was a joint account, you better find a way to get your name off of it before it gets ugly. Doesnt matter what the judge rules...the creditor can still sue you if you dont continue the Terms of the Contract.
What should you do if your brother made you a joint cardholder to help build your credit but his high balance is hurting your credit?
You can remove yourself from the account. Keep in mind that if it is a joint account you are still equably responsible for the debt incurred.
Who is responsible for credit card dept after cardholder dies?
If you are not a joint account holder you are not responsible for the debt. The debt will be included in any probate hearings. The court will then decide which debts (if any) are paid out of the estate assets.
If a credit card holder dies who will be responsible for paying debts on cards?
If the cardholder has an estate, the credit card company can pursue that. In practice they don't really do that. If the account is a joint account, the other account holder becomes wholly responsible for the debt. Otherwise the bank eats the money.
If you are specified as an authorized user on a credit card account that is not a joint account can your credit score increase?
No, only the primary cardholder's credit score is affected.
Will credit card companies go after a cardholder's live-in partner for payment when the cardholder can't make his payments?
Only if the person were a joint account holder. The account holder is the only person responsible for the debt (exception for married couples in community property states). However, if the parties own joint property, it is possible for a lien to be placed against the debtors share of that property.
If the primary cardholder is deceased and the authorized user is no relation and not responsible for debt will this affect the authorized user's credit if it is not paid?
AN authorized user cannot be held responsible for a primary holder's debt in any case. Only a joint holder can be liable for the debt. YES OF COURSE
Is the joint owner on a credit card responsible for the debts?
Answer credit cardfrom past experience with my mother in law, you are responsible for the credit card balance The surviving joint account holder would be responsible for the entire amount owed.Credit Card DebtUnfortunantly you will be responsible for all of it.
If you adds your sister as a second cardholder to an account will your credit be negatively affected by your sister's bad credit?
No. Only is she became a joint account holder, then both persons credit would be affected if any default occurred.
If your ex files bankruptcy on a joint credit card they were court ordered to pay is there anything you can do to protect your credit?
No. Creditors do not care about divorce settlements concerning joint debts. The person not filing the bankruptcy will be held responsible for repaying any joint debt that was incurred during the marriage. The only protection for the ex-spouse is filing his/her own bankruptcy if they cannot pay the debt.
Is a wife who is not a joint account holder responsible for her husband's credit card debt in Illinois?
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
Is the wife responsible if husband is using her credit card for illegal activities?
If they are joint user of the account, yes she is responsible
