I need some major help!!! When I was 16 I visited to my local city college campus for lunch. While their a women approached me and ask me if I wanted a free tshirt. I said sure and she said all I needed to do was fill out a credit card application. I did and a little while later I got several credit cards in the mail so I started using them and making payments. Well I got in over my head and eventually couldnt keep up with the payments. I contacted a local credit counseling agency for help and they said they couldnt help me because I was a minor and could of not legally incurred this debt and to send copies of my birth certificate and id to the credit card companies and the credit bureaus. I did this meanwhile I was charged too many fees to count and the balances skyrocketed. Several years later this is ruining my life I dont know what to do or how to do it.
2006-06-18 00:53:54 · 17 answers · asked by hrgr21 2 in Business & Finance ➔ Credit
I don't know what to do sorry!
2006-06-18 00:56:30 · answer #1 · answered by ? 5 · 0⤊ 1⤋
Minors can not legally enter right into a settlement, different than for needs (food, clothing, shield etc). Legally, banks are prohibited from issuing credit taking part in cards to minors. interior the form that your daughter isn't able to pay the credit taking part in cards, it may be smart to tell the credit card company that a legally binding settlement can not exist and as a result, they can not checklist a default which has adverse credit status implications that should maintain on with your daughter for some years. The credit card companies could argue that once your daughter turns 18 that she accepts duty for purchases made while she replace into 17 by making use of making charge on those balances (unknown how this argument could fare).
2016-10-31 02:07:07 · answer #2 · answered by ? 4 · 0⤊ 0⤋
1. www.experian.com -- dispute the debt by sending the information to them as well.
2. www.transunion.com -- dispute the debt by sending the info (birth certificate, etc. to them).
3. www.equifax.com -- dispute the debt by sending the information to them as well.
You need to contact all 3 bureaus by going to these web addresses and send them letters to MAKE the credit card companies respond to the bureau and you (please be sure to send them copies of your birth certificate).
And follow-up on all 3 bureaus in accordance with the Fair Debt Collection Act.
Now, the harder part is this. You ARE responsible for any additional CHARGES you made to the card after reaching the age of 18. Just because the credit card account was open in violation of normal lending laws, you validated the debt by making payments to the credit card after age 18!
Did you make any payments to the credit card after turning age 18?
Every time you make a payment as an adult -- you validate the debt -- especially when there is no dispute on file.
Now, if you made charges (and payments) after age 18 -- you are legally saying that -- "Hey, I am an adult now! I agree to the terms and condition of the contract that we entered into when I was a minor."
However, if you have charged on the cards at age 16 and age 17 and closed them and disputed them before reaching 18. They would have to close the accounts out at a loss because they can NOT lend money to a minor and hold them legally liable.
In this scenario,
1) the dispute was announced timely per the credit card agreements;
2) no payments were made as an adult to validate the debts and the credit card statements;
3) the credit card companies have no receipts dated after your 18th birthday containing your signature, which shows acceptance of the terms of the credit card agreements.
The thing is -- you are no longer a minor and it sounds like you didn't dispute the debt before reaching the age of majority (18).
Here is a final kicker. Most credit card companies require you to report a dispute within 60 days of the event or transaction you disagree with. This means that within 60 days AFTER turning 18 --> you should have sent a letter to them disputing all balances on the credit card!
You didn't do this either.
The measurement date was your turning 18! If you wait one year or two years after turning 18 AND make payments (in the process) and now want to dispute -- they have a very strong case against you because:
1) you didn't follow the terms of the agreement with the credit card companies (you failed to dispute the charges within the time prescribed per the agreement);
2) you have behaved legally in a way that validates the debt as an adult (i.e., making payments after the age of 18)!
3) you probably charged some amounts to the credit card AFTER reaching 18 and doing so means that you agree to the terms of the credit card agreement.
The forecast looks very dim.
2006-06-18 03:31:48 · answer #3 · answered by DaMan 5 · 0⤊ 0⤋
If an adult did not co-sign on the cards and you activated and accrued the debt from the time of 18 and below you are NOT responsible. It's as simple as that. Call a credit counselor and have them contact the creditors.
2006-06-18 00:59:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You were a minor and Not Legally responsible. Write each creditor and ask them to cease and desist bothering you or threaten a lawsuit for harrassment or threten to contact the Banking Commissioner in each state/ credit card addressee.
The Banking Commissioner will stop them.
2006-06-18 02:08:09 · answer #5 · answered by MoMoney 3 · 1⤊ 0⤋
bad deal when a young person gets over their head's in credit card debt, however you did in cure the debt and failed to pay your cards off in a timely manner. It will take 10 or more years to get your credit re-established!
2006-06-18 01:02:04 · answer #6 · answered by Pobept 6 · 0⤊ 1⤋
Absolutely! Food for thought, if you don't pay on time you can start kissing your good credit goodbye. Don't forget, this information stays on your credit history for a long time. Pay on time! Better yet, don't use your credit card unless its an emergency and you know you can pay it off within a reasonable time.
2006-06-18 01:38:17 · answer #7 · answered by ndvsne1 4 · 0⤊ 1⤋
Minors cannot legally sign contracts. Did you lie about your age on your application? If you did, you may have committed fraud.
That "Free t-shirt" ended up costing thousands of dollars!!
2006-06-18 02:44:19 · answer #8 · answered by ps2754 5 · 0⤊ 0⤋
credit cards require a legal contract,you must be of legal age to enter in a contract, unless you misrepresented your self as far as age or income you may be alright
2006-06-18 02:52:50 · answer #9 · answered by jarniganss 1 · 0⤊ 0⤋
File for personal bankruptcy . and change your name .When you do you ad in the paper to notify all those consumer's of the change and start a new .
2006-06-18 01:15:56 · answer #10 · answered by Dvplanetwaves 3 · 0⤊ 1⤋
theoretically it shouldn't be held against you. but these are banks, and they tend to have their own laws. you may have to get a lawyer.
2006-06-18 01:00:39 · answer #11 · answered by Anonymous · 0⤊ 0⤋