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  1. #1
    Join Date
    Oct 2008
    Posts
    3

    Default When Does It All Go Away?

    My question involves bankruptcy in the state of: Florida

    I am 30 years old. When I was younger I was on my fathers credit card. I believe I was an authorized user? He neglected to pay his cards and skipped the country. Now I am stuck with a debt of $15,000. It has been almost 9 years since this is has happened. It has been in collections a looooong time.

    I heard after a certain amount of years it is removed automatically from your credit report?

    I heard after a certain amount of years it is removed automatically from your credit report?

    Can they come after my bank account?

    Can they come after my new husband's bank account?

  2. #2
    Join Date
    Apr 2007
    Location
    Southeastern Michigan
    Posts
    1,226

    Default Re: When Does It All Go Away?

    Have you filed bankruptcy, or are you considering filing?

  3. #3
    Join Date
    Oct 2008
    Posts
    3

    Default Re: When Does It All Go Away?

    I have not filed. Considering. What Should I do?

  4. #4
    Join Date
    Apr 2007
    Location
    Southeastern Michigan
    Posts
    1,226

    Default Re: When Does It All Go Away?

    You should consult with an attorney in your area to see if you are indeed legally responsible for the debt. Usually, an authorized user is not responsible for the debt if you did not sign the credit card agreement.

    However, the payment history (or lack of) of your father, which will also be reported on any authorized users credit report. If they have, your credit takes a big hit.

    Again, consult an attorney and determine your options; like having your name removed from the card.

  5. #5
    Join Date
    Oct 2008
    Posts
    2

    Default Re: When Does It All Go Away?

    Wait a minute...if you're an authorized user on the card, you are not liable for the debt. How do you know you're "stuck with the debt"?

    Collectors will tell you a whole lotta crap to get you to pay the debt, but that doesn't mean it's true.

    Have you pulled your credit report lately? Is it on there? If I knew exactly what it said, I could tell you a little more about when it will go away.

    They can't touch anything that doesn't have your name on it, so if your husband's account is in his name only, you're fine.

  6. #6
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: When Does It All Go Away?

    First, smustudentx is not sure if he was an authorized user. The alternative would be that he was an account holder. If the credit card company has been pursuing him for the debt, that's a significant possibility.

    Second, there may be an avenue to recover against an authorized user who is taking advantage of the account holder's intent to default. If dad's leaving the country and skipping out on his bill, and junior maxes out the card knowing that, the credit card company might (for example) attempt to pursue junior for fraud.

    It's an overstatement to say, "If it's not in your name, a creditor can't go after it." If a debtor transfers assets out of his name in order to impoverish himself, the creditor can attack the transfers as "fraudulent transfers" and seek to collect the value of the transferred asset against both the debtor and the recipient of the transfer.

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