Another CC debt ? for Helena


#1

This is where my knowledge of creditor/debtor law is not infallible. It is my general understanding that if you remove yourself as an authorized user you are not liable for the debt. However, you should check the specific agreement with that credit card company to ensure you have no liability.

P.S. Please feel free to bring up this or any other topic on our live call-in show every Wednesday at 11:00 a.m. EST. Visit radio.rosen.com/live for details

Helena M. Nevicosi
Attorney with Rosen Law Firm

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The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#2

Dear Helena,
First, thank you so much for sharing your knowledge.
Six months before my separation, going on guidance from someone at my bank, I checked my credit report and contacted each CC company and canceled joint credit cards and had myself removed as an authorized user on any cards that I was listed as an authorized user on…I found my husband had “beat me to it” with some and had removed me as an authorized user. After he told me he wanted a separation,I’m assuming that he thought I was going to go CHARGE CRAZY or take out a cash advance.
Most of these cards were cards he had applied for and I was authorized user or joint card holder. Over our 23+ year marriage, he had applied for all of our major credit cards in his name, with some of them having been joint and some with me as authorized user. Even though we both worked,he had always “managed” our finances, so after he dropped the “I want out” bomb on me, I got busy trying to learn as much as I could, as fast as I could. I’ve got a loooong way to go, but he and I are getting ready to try and agree upon ED.

Example Scenario and Questions: We had a card where I was an authorized user. I took myself off as a user on 11-3-06 with a balance remaining at the time of $10,000. My husband kept the card and continued to charge on this card. By the time of separtion,4-6-07, I have my own credit cards in MY name with “my own debt”. We separate on 4-6-07 with a larger balance on the $10,000. card that I took myself off as authorized user on. Let’s say it jumped to $15,000.
He has been paying and may agree to continue to pay a lot of our credit card debt as part of ED. If he takes on X amount in credit card debt and for some reason can’t/doesn’t pay (which I’m not expecting,as he has always been conscientious about paying things on time, but I’m just not certain of anything anymore)since my name was at one time on the cards, even though removed some time ago, do I become responsible, even if it is put into a “global agreement” by our attorneys that he is responsible?
Sorry for the epistle and the redundancy in regards to this being so similar to the other cc debt questions.
Thanks for all your help on this forum and Take Care,

gotanswers