[jzarate12]

If I am an authorized signer on another person's credit card (such as my mother or father's), am I legally bound to pay down the debt on that card?

I am trying to get a home equity loan w/debt consolidation. My lender has advised me that I will need to payoff the debt on my cards as well as on those cards where I am only an authorized signer. Can they do this?

Thank you,

Janine

[Mr. Knowitall]

Normally, you have no liability for cards upon which you are only an authorized signer. I don't know what the lender's objection is, unless it's about raising your credit rating a few points such that you qualify for a loan - if the delinquencies are appearing on your credit report, you may be ineligible under the bank's policies on the basis of your score. Ask the lender to explain.