dvalliere
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| Credit card help please |
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My mother has a Discover credit card with me as an authorized user. She died in January with a balance due and no money to pay it off.
My question is this:
If I don't pay the bill and tell them she has no estate. Will it affect MY credit score if she defaults on the card? I have a low interest card that may increase my interest rate if my score changes.
Donna
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Thu Mar 01, 2007 10:16 pm |
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coaster
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Donna, I think you need to find out if it was a joint account. That is, whether or not you and your mother are both co-equally responsible. If it's a joint account, then you're responsible for paying it off. If you're just an additional authorized user of the account, but the account was in her name only, then it shouldn't affect your credit score. You'll only be able to find that out by calling the credit card issuer.
I'm very sorry you lost your mother.
~Tim~
Eye Candy : Why Whimsy
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Thu Mar 01, 2007 11:07 pm |
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Kiaser
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You gotta find out if you are an authorized user or a secondary account holder (different credit card companies call these different things sometimes, you gotta check to make sure what their definitions are). One just allows you to use the card, the other is actually being responsible for the balances.
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Fri Mar 02, 2007 1:19 am |
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dvalliere
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Thank you coaster for the condolences.
My name does not show on her statement only hers so I'm pretty sure it's not a joint account. I'll have to try calling them tomorrow to make sure. Thanks for the advice.
Donna
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Fri Mar 02, 2007 5:31 am |
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dvalliere
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I am an authorized user on my mom's card. I checked with Discover and they said that an authorized user is not obligated to pay but it does affect their credit report when the account holder defaults. So it looks like I'll have to pay the card off. I can't afford to have my credit cards raise my interest rate.
Thanks anyway guys...
Donna
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Thu Mar 15, 2007 3:03 am |
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coaster
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Sorry about that. 
~Tim~
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Thu Mar 15, 2007 3:25 am |
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Offshore-Wealth.com
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| Offshore-Wealth |
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quote:
Originally posted by dvalliere
I am an authorized user on my mom's card. I checked with Discover and they said that an authorized user is not obligated to pay but it does affect their credit report when the account holder defaults. So it looks like I'll have to pay the card off. I can't afford to have my credit cards raise my interest rate.
Thanks anyway guys...
Funny,
This is not true, just think about it, they have no credit application with your signature of liability, so they have no way to require you to pay, they simply took a shot playing on peoples honesty to believe what a bank says as gospil when in fact banks are the worse liars of all. You cannot be held responsible for anothers debt no matter what some customer service person said on phone. Don't be fooled, they will go to all lengths trying to get their money. They don't have you SS#, so they could not damage your credit without it.
Good luck to all, Mike
FREE NO COST NO RISK BUSINESSES
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Thu Mar 15, 2007 5:00 pm |
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coaster
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IF they don't have the SS# ... I think it would be good to verify that first. She's in the right, but could spend a lot of time and many hassles to get her credit straightened out if reported her as a default. I don't know what the balance is, but if the pain of paying it is less than the pain of fighting for what's right, then it's a matter of deciding how much it's worth it to be right.
~Tim~
Eye Candy : Why Whimsy
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Thu Mar 15, 2007 5:14 pm |
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dvalliere
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I recently (last fall) received a copy of my credit report. Would the card show up on there if I am an authorized user? I'll have to go dig it out of the bedroom to check if I can find it.
Donna
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Fri Mar 16, 2007 12:57 am |
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Offshore-Wealth.com
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| Offshore Wealth |
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quote:
Originally posted by dvalliere
I recently (last fall) received a copy of my credit report. Would the card show up on there if I am an authorized user? I'll have to go dig it out of the bedroom to check if I can find it.
Yes anytime you apply for credit it would show up as an inquiry, and if you were issued a card, personally, it would show up on one of your reports, so check them all, it is free once a year to get credit report.
The reason I know the games Discover plays is that my daughter passed away and they tried to say I was responsible as I was her Father and she lived with us. Total lie, so all I am saying is don't fall for these low life credit card companies, they will say anything to get paid.
Good luck to all, Mike
FREE NO COST NO RISK BUSINESSES
http://FREE-FUNDRAISERS.com
http://FREE-100K-SECRET.com
http://TV-PROMOTIONS.com
http://FREE-MOVIE-BIZ.com
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Fri Mar 16, 2007 10:46 pm |
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rockhound
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| right |
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quote:
Originally posted by coaster
IF they don't have the SS# ... I think it would be good to verify that first. She's in the right, but could spend a lot of time and many hassles to get her credit straightened out if reported her as a default. I don't know what the balance is, but if the pain of paying it is less than the pain of fighting for what's right, then it's a matter of deciding how much it's worth it to be right.
Yes, adept extortionists know what pain threshold is just low enough to make it easier to pay up instead of fighting. I had a similar experience with a clip joint "pay to park" lot that was unmarked and right next to a popular restaurant. In the end, it was easier to pay the $25 fee for "non pre-payment" rather than fight and run the risk of getting $150 in fees charged to my credit card, which they would have found easily enough on file at the car rental agency if they'd have traced the plate. On the other hand, I have cancelled cable service over a $2 late fee that I felt was bs because of slow mail after 9/11. I wouldn't hesitate to cancel a credit card that dared to raise their rate. It depends on your financial situation. My house and cars are paid for, and because my credit cards carry no balance they are simply conveniences that I could live without. I have little reason to care what my credit score is, because I have no loans and have no need to get any loans, although my credit score happens to be very good. If a credit card company came to me and said I needed to pay the debts of some relative or they would raise my rates and put a default on my credit report, I would cancel that card within the hour and tell them in writing to go take a flying.... you get the idea.
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Fri Mar 16, 2007 10:47 pm |
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coaster
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Yes, I get the idea, and though I'm sympathetic to that viewpoint, it demands a certain financial independence to act on it. Credit scoring has most people in its grips and when the impact on credit scoring is concerned, cancelling cable service (zero impact) isn't in the same ballpark as being on record as having defaulted (huge impact), whether it's right or not. Making it right to keep the credit history unblemished is of paramount importance. There are two ways to make it "right" -- fighting for what's right or just caving, paying the damn thing, and walking away. At least you walk away with your credit score intact, if not your pride.
~Tim~
Eye Candy : Why Whimsy
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Fri Mar 16, 2007 11:40 pm |
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rockhound
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I suppose there is another question. What is the balance on the card in question? Is it high enough that trying to pay it will result in a financial hardship? One or two thousand is worth swallowing your pride for to preserve your credit rating, providing that you are hostage to that rating in some other quarter. What if the balance is simply beyond your means, and trying to pay it will cause you to miss other payments, and result in the lowered credit score that you were trying to avoid? Maybe there's a lesson here for everyone. If you owe money or are in a precarious financial state, you are in THEIR power. If you don't owe money, and are not subject to the need for a credit rating, THEY have no power over you. As long as they can't sue you for it....
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Sat Mar 17, 2007 12:53 am |
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coaster
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Oooff!! One or two thousand I'm going to fight tooth and nails for!!  Fifty bucks I might let slide. 
~Tim~
Eye Candy : Why Whimsy
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Sat Mar 17, 2007 2:43 am |
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