Mar 01
I notice on a credit card I’ve had for many years that the account is now also showing up on my wife’s credit report. As far as I know she never signed anything but I did add her as an authorized user when I opened the account. I can’t see how she would be legally liable for any portion of the balance – is she? Is this some sort of scare tactic being imposed by the bank? I might add that this bank received billions of $$$ in TARP funds. I ask because I’ve been unemployed for months and cannot afford the scheduled payments.Thank you!
an authorized signer has the same legal obligations as the original owner. It is just like on a checking account. If a husband and wife have a joint checking/savings account and the account goes negative and the bank charges it off it will show up on both of your names.
In your case since she is getting the benefit of on time payments on her credit report, she will also have the bad marks of late payments as well.
Try negotiating with the credit card company. Some companies can help you since you lost your job.
Frank those TARP funds were a loan with interest and have likely been repaid by this bank to us, the taxpayer. This was not a gift to be handed out to the bank’s troubled customers.
You must have given the lender her ssn which means she is obligated also. Without her SSN there is no way to get this on her credit report.
You will need to contact the bank and have them send you a copy of the original application. If the application has her personal information, DOB, SSN, etc. then the bank made her a joint owner and responsible for the account.
If she is listed as an additional card holder without the personal information, then the bank is in error and needs to remove her as an owner.
Is her name on the statement? If not she can dispute her “ownership” of the account with the bank and claim she has been only a card holder.