Results 1 to 2 of 2
  1. #1
    Join Date
    Aug 2009
    Posts
    2

    Unhappy What Happens when Co Signer is Dead and Borrower Still Uses Card

    My brother has had a charge card that my mother co signed on. He max out card and now is not paying. My mother has been dead for many years now but credit card company had not been told. Brother's name is first on bills, mother second. There are two cards with their separate names on them. Can they go after him. He is what is called judgement proof, whatever that is. What recourse does credit card company have. I don't want him to get in over his head. He has max out two credit cards slowly but surely. I am angry with him because of this and am afraid that he will get in trouble. Is this fraud? I cannot afford to help him out. One card is 23,000 and other is 12,000.

  2. #2
    Join Date
    Jun 2009
    Location
    California
    Posts
    666

    Default Re: What Happens when Co Signer is Dead and Borrower Still Uses Card

    Assuming your mother's estate has long been settled, the creditor's recourse is against your brother. It sounds like it is far too late for you to worry about him getting in over his head. He is there. "Judgement proof" is a slang term that refers to someone who has no attachable assets. It means if you sue and win, there is nothing to collect against. While your description of his situation implies that that may be true, there is no way that we can tell if it is or not. -- btw, being "judgement proof" is not a good thing.

    1. Sponsored Links
       

Similar Threads

  1. Co-Signer's Remedy When Primary Borrower Defaults
    By nsrawlings in forum Cars and Dealerships
    Replies: 1
    Last Post: 08-15-2010, 09:20 PM
  2. Student Loans: Can the Co-Signer Garnish the Borrower's Wages
    By LawBlues in forum Debts and Collections
    Replies: 1
    Last Post: 03-07-2010, 08:25 PM
  3. Co-Signer Entered as Borrower on Auto Loan
    By CashBuyer in forum Cars and Dealerships
    Replies: 1
    Last Post: 01-27-2010, 06:34 AM
  4. Repossession: Primary Borrower's Rights when Co-Signer Won't Make Payments
    By EHamm in forum Cars and Dealerships
    Replies: 5
    Last Post: 12-12-2009, 05:13 AM
  5. Repossession: Co-signer's responsibility after primary borrower dies
    By jimmy stewart lawson in forum Cars and Dealerships
    Replies: 3
    Last Post: 01-17-2007, 09:46 PM
 
 
Sponsored Links

Legal Help, Information and Resources