I do not want to be responsibile for his debt anymore. He pays on time every month and pays by check. If I take away his card (it's almost maxed), what prevents him from walking away completely and leaving me with the debt? I have never used the card since it has been in his possession, so I would think it would be easy to prove that the debt is not mine at all. Has anyone dealt with or gone to court in a similar situation?
2007-06-23 14:42:50 · 9 answers · asked by ywpt305 1 in Business & Finance ➔ Credit
Punch him in the mouth and tell him to quit f**kin around.
What prevents him from walking away completely is the fact that you are his friend and a friend doesn't walk away from something like that.
2007-06-23 16:08:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Unfortunately, if you take the card away and remove him from the account and he does not pay....you are responsible for the debt since you are the primary account holder. Under no circumstances do you put someone on your credit card account or do you co-sign a loan for anyone! I learned the hard way and I can see that this will be a valuable lesson learned for yourself. It is a sad situation and I am sorry to hear that your friend went way out of bounds by charging the card to the max. You could talk to an attorney about this, but I really think he will tell you the same thing that I have told you.
2007-06-23 23:11:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I suggest you tell the credit card company to lower the amount that you can use on the card so the friend doesn't put any more debt on it. I hope your friend pays but if not I don't know if legally you can force him/her to pay or not. Ask a lawyer or a free legel clinic lawyer what you can do. If you are told it's going to be your debt then pay a little at a time so you don't get bad credit and learn from your mistake don't ever lend your card or money to anyone.
2007-06-24 03:36:59 · answer #3 · answered by detour 4 · 0⤊ 0⤋
Obviously, you should not have given him access. I see a couple options:
1. Call the credit card company and cancel it. If you cancel it the day after payment is due, his balance won't be too high.
2. Call the credit card company and ask for a reduction in your spending limit.
3. Talk to him and ask him to get his own card.
4. Ask the credit card company, in writing, to take your name off the card. I don't think that they'll do it, but it would be a good letter to have later.
Good luck.
2007-06-23 21:51:36 · answer #4 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
This is a terrible situation for you. If he stops paying you are the one responsible to make the payments. You need to have a face to face with him and try to get him to admit he's the one liable for the charges and then get him to sign an agreement, written by you to that effect. That way you would have recourse in a civil suit if that becomes necessary. Did he charge anything that you can take possession of? TV, computers etc. It doesn't sound good for you. I hope this isn't an expensive life lesson, you don't deserve it.
2007-06-24 22:44:54 · answer #5 · answered by chaleychan 3 · 0⤊ 0⤋
If he pays on time every month I would not worry about it. If you take away his card now it may get him mad enough to walk away.If he did walk away I am sure it would not be hard to prove that all the charges were made by him.
2007-06-25 23:42:15 · answer #6 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
wow, what a situation. How did you end up being responsible for another person's debt?
If I were you I would talk to your bank, ask them but it seems to me you are not in a very nice situation here.
2007-06-25 10:10:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I think if you gave the person the authorization to use your card, you might be in trouble..Did you put it in writing? If so,
you ARE in trouble..I`d call the card company and tell them what you did and see if they can help....ASAP.......
2007-06-23 21:52:07 · answer #8 · answered by Ro 3 · 0⤊ 0⤋
I don't know what you can do.... But I could sure use a friend like you!
2007-06-23 21:51:30 · answer #9 · answered by Charlie J 2 · 0⤊ 0⤋