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  1. #1
    Join Date
    Sep 2013
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    1

    Default Is the Account Holder Affected When an Authorized Signer Files Chapter 7 Bankruptcy

    My question involves bankruptcy in the state of: CA


    I am filing Chapter 7 and am an authorized user on my mothers credit card. Will I need to consider this in my bankruptcy or will it not effect my mom at all? My concern is that if I file it will be reflected on my moms credit report or that it will close her account. I don't want that to happen and hurt her credit.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Is the Account Holder Affected When an Authorized Signer Files Chapter 7 Bankrupt

    An authorized user's credit history does not affect the credit of the card holder.

    It's possible that your bankruptcy would appear on the card holder's credit report as a trade line under the entry for that card. Should that happen, your mother could dispute that entry (but it won't affect her credit score, one way or the other). She can also remove you as an authorized signer before you file.

  3. #3
    Join Date
    Sep 2010
    Location
    Florida
    Posts
    153

    Default Re: Is the Account Holder Affected When an Authorized Signer Files Chapter 7 Bankrupt

    Always better safe than sorry, have your name removed as authorized user prior to filing BK. It shouldn't affect like Mr Knowitall said but to be sure have yourself removed.

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