If I lied about my age and recieved a credit card when I was 16 am i responsible for paying them?

Question

I applied for 2 credit cards in my name when I was 16 and of course I didnt realiize what a pain it is to pay on credit cards. I had a bank of america and Dell credit card. I used it for college but im not finished yet and cant afford the payments. Now I have negative stuff on my credit. Someone told me that I am not responsible for paying them back because i was not of legal age to be binded in a legal contract. I was just wanting to know if Im not responsible how would I go about getting it off my credit and letting the companies know.

Answer 1

If you were in college when you used it, you were most likey above 18 years old. Once you use it after you turned 18 you then became responsible for the credit card. So even though you opened it up at age 16 that no longer matters.

Answer 2

Yes just because you committed fraud on a credit application doesn't negate your responsibility to pay a debt. There is no law the says a company cannot extend credit to someone who is underage. It is just usually their policy because they wouldn't be able to sue you if you are underage they would have to sue your parents. I assume you are over 18 now and if the company files a suit against you I don't think a judge is going to be sympathetic because you defrauded the company from the get go. You are better off just being honest with the creditor and settling the debt just make sure it is not reported as settled. Did you think all the child stars making millions are not legally allowed to have credit? Rich kids buys houses at 16, doesn't mean they're not responsible for paying it back. Your friend is confusing Criminal Law and Civil law. You also need to be concerned with much more that how it is currently effecting your credit. Most people think after 7 years it goes away but some states, Ohio for instance have a 15 year statute of limitations. Basically if you default they have 15 years 6 months from your last payment to sue you at which point you will be issued 10 year judgment. All the time the debt continues to earn interest.

Answer 3

you may be charged with fraud for falsifying your age and since these are two major corporations they more than likely will not settle for the excuse" I was young and not thinking", best to suck it up and get down to the business of making things straight. Credit problems last a lifetime even though problems are said to be purged from records after 7 yrs the creditors often file claims every 2 years so they will stay with you forever unless you go bankrupt and that is not a good way to go you should be in debt at least in excess 50,000 to consider and future creditors such as house, car, even landlords frown on bankruptcy history. Try to prioritize your budget and get this matter under control it will only get worse and cause you a great amount of stress

be prepared if you go to these companies with that type of fight you may be barking up the wrong tree and open up a NASTY can of worms

Answer 4

Yes if you used the credit cards after the age of 18 then yes your likely responsible.

I would first take out a student loan, then attempt to negotiate with both companies in regards to your circumstances and ask for them in "good faith" to remove the deliquencies if you agree to pay (AND PAY ON TIME), now with your student loan I would try and pay off the items within 6 months. Do not spend it all on the items at once.

Of course your going to have to pay the student loan back, but it will help in the long run, also when after you pay off the accounts DO NOT cut up the cards leave the accounts open to establish history.

Answer 5

Well, first of all, you committed fraud, and you can get into serious trouble.

However, according to a man at Trans Union: "If a debt appears on a minor's credit report, he/she can call the credit reporting agency and dispute the account stating that he/she was a minor. Once received, the credit reporting agency would follow the necessary steps to verify the information with the creditor."

It seems, however, that you could be responsible for debt incurred after 18.

Answer 6

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.

Answer 7

You need to consider two words, Liable and Criminal.

You may or may not be liable for any charge you made before you were 18, but what you did was still against the law and you may be criminally charged.

If I were you, I'd cancel both cards and pay them both off the best that you can.

Answer 8

You got all the answers. If you can not make the payments, perhaps you should get your parents to pay off the debits for you. There's an old saying in the collection business, " If you're gonna be a thief, make sure you can retire from it".

Answer 9

you may not be liable because a minor cannot be held to a contract, but you would be charged with credit card fraud and go to jail which has no age limit.