When I met my wife she had good credit and I did too.She put me on her credit cards and made me an authorized user. Instead of her using her cards she had me purchase everything and sign my name.I never gave my written permission for her to do this or provided my social security number on her accounts.She over a year or so borrowed money on those cards with using my issued credit card that was still on her account. We were married during that time and I was curious if she has massive amounts of money that she owes am I responsible even though I was only an authorized signer? Can I get in trouble for her running up large amounts of money on the credit cards using my credit card that I was authorized to use? This has me really worried. Also do the credit laws vary from state to state.At the time we didn't live in this state we now live in Colorado.
2007-08-14 13:48:40 · 6 answers · asked by jb 1 in Business & Finance ➔ Credit
If she only added you as an AU, you are not liable.
If she added you as joint, then both of you are liable.
Even though you are not liable, that may not stop the creditors or collectors from "trying" to make you believe you are.
Order your credit reports and dispute all of the accounts that you are an AU on. You might dispute them as not yours or as never having those accounts in your name (which is basically the truth since they are not your accounts and you are not a joint user)
If the accounts are with collectors and they verify with the CRA's, send the collectors debt validation letters and request proof that the accounts are yours or that you were a joint user.
If the accounts are with the original creditors and they verify the accounts with the CRA's, send them a "verification" letter. Original creditors do not have to "validate" but they will have to provide "verification" if it is requested. Request that they provide proof that the account is either your accounts or that you are a joint user.
Your state has their own version of the FDCPA which includes original creditors. It means that the original creditor can be held in the same standards as a collection agency - they cannot use deceptive means to collect etc. But the OC's are still not required to "validate" when asked.
2007-08-14 14:26:49 · answer #1 · answered by echo 7 · 1⤊ 0⤋
As long as you are only an authorized user and not a joint, you are not liable. But, I can become a problem if these debts aren't paid. Worst case scenario, she doesn't pay, and a judgment is obtained. If you share a checking account, they can seize funds. It can also hurt the household income if her wages are garnished, and finally...If the judgment isn't paid, there is a chance they can try to put a lien against your property if her name is on it (Or ever was). Oh, by the way, if any of the debts is through your bank (Where you have a savings or checking), yes, they can and will swipe the funds from your account if you are married.
2007-08-15 11:10:04 · answer #2 · answered by CHRIS V 3 · 1⤊ 0⤋
prenuptial settlement is assents till now the marriage, no longer for the time of. All debt throughout the time of the marriage is marital debt, to be chop up between the two events. My farther in regulation and my ex husband took a 8,000 loan out, i had no area nor did i additionally be attentive to, i will ought to pay 0.5 of that alongside with all of my ex husbands costs. it is merely the grotesque area of divorce.no person likes to think of approximately that as quickly as entering into what's supose to be a existence time of love and dedication. stable success to you, Jenn
2016-10-15 08:57:24 · answer #3 · answered by neher 4 · 0⤊ 0⤋
Blame the credit card company.
2007-08-14 13:56:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes, it doesn't matter who signed for or actually paid for stuff. All the debt belongs to both of you.
2007-08-14 14:11:11 · answer #5 · answered by Anonymous · 0⤊ 1⤋
yes
2007-08-14 15:47:25 · answer #6 · answered by jeanniep 5 · 0⤊ 2⤋