Can I be held responsible for my adult childs credit card debt? The company has placed his debt on my account?
2007-11-29 23:36:47 · 16 answers · asked by Carol F 1 in Business & Finance ➔ Credit
only if its your account and he was an approved user. otherwise tell them stop harassing you.
you need to send them aletter informing them it is an adult child not your spouse and you are not responsible for it. if they do not remove it you will contact the 3 reporting credit services, and report them
2007-11-29 23:39:30 · answer #1 · answered by crazzijimsmith 7 · 13⤊ 0⤋
Not unless you are a co signer to his account - A guarantor, in other words.
If he has the card in his name only, he is singularly responsible for payment of the debt.
It is smart of he starts making some payments immediately before this goes to collection and his credit record is destroyed for the next 7 years.
They cannot place his debt on your account unless you agreed to it. If he is an adult you are not responsible without your permission.
If they placed his debt on your account - how did this happen? Whatever has happened, communicate NOW. Get it paid somehow, through modest but regular payments. Your child should, at this time, no longer have a credit card. He cannot handle it responsibly - take it away before he bankrupts you. Stop the creditor from holding you repsonsible. Get that cleared up and take that card away.
2007-11-29 23:54:17 · answer #2 · answered by organbuilder272 5 · 0⤊ 0⤋
There is alot more to this then your telling.
Q. Is the account yours (did you open the account) and you got him (authorized) a card with his name on it.
A. If the above question is correct then Yes you are liable for his debt
Q. Did you Co-Sign for his own account and credit card.
A. If this is true then No they cant place his debt on your account but they can send you his bills if you Co-signed
2007-11-29 23:43:59 · answer #3 · answered by J Rebel 3 · 1⤊ 0⤋
They can't do that if you didn't co-sign for his card. Sounds like you did and forgot...or that it's a joint account. If that's the case, you are stuck. Get sonny-boy's name OFF all your financial accounts or every time you turn around, he's gonna stick you with more debt.
2007-11-29 23:42:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Of course not! that is a ploy by them to frighten you into offering to pay! But having said that! You did not sign or go guarantor for your son when he first applied for a credit card, did you? Because if you did, then you would be liable for all debts that he incurs by law! So my advice is to check first!
2007-11-29 23:45:43 · answer #5 · answered by wheeliebin 6 · 0⤊ 0⤋
If you didn't get an account on the card or co sign nope
2007-11-29 23:41:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Only if you cosigned for him or colinked your account to his. If you had nothing to do with his credit card, the company is ripping you off.
2007-11-29 23:39:55 · answer #7 · answered by Gray Wanderer 7 · 2⤊ 0⤋
Nope as long as his account was under his name and he applied for it himself, there should be no reason the card company will contact you. Don't worry.
2007-11-29 23:39:37 · answer #8 · answered by Boy, Interrupted 5 · 1⤊ 0⤋
If his card is on your account then YES.. the bank can come after YOU.
2007-11-29 23:39:42 · answer #9 · answered by Anonymous · 1⤊ 0⤋
hell yes.. i be so pissed off first that i would be the first one to call 911 and let them no then i would call the person that okayed the credit card and press charges on them also...
2016-05-26 23:45:47 · answer #10 · answered by ? 3 · 0⤊ 0⤋