Question about additional card holder

[hardly]

Okay, I am the primary holder and my ex boyfriend was an additional card holder. We got a new apartment and got carried away making it all nice and all that and suddenly we were 14k in debt, which has never happened to me before. I've been paying it off steadily and got it down to 10k in the last five months, while he only contributed about 280 bucks.

We went over all the charges together and his fair half of the debt is almost 8k. I'm moving away and he's agreed to sign a contract promising me that he will pay me the rest within a certain amount of time. I was just wondering whether there is a certain kind of contract that we should sign so that it would be valid no matter what; whether we need a lawyer or someone present or if it needs to have certain wording.

Any help will be very appreciated. Thank you!

[DebtHater]

I would google "promissory note" and you should have an idea on what to write up.

Just keep one thing in mind, if he stops paying you for his share, you are still responsible to the credit card company. The only thing a promissory note will do is give you legal recourse to go after him for the money should he stop paying.

[teacher]

The promissory note would be between you and him, not the credit card company. You are legally responsible for the entire balance due (as well as him) regardless of what agreement you make with him.

[Flamingo]

May I suggest something to you...since this is not about small change and is for $10,000, I would definately consult with an attorney because from what I can gather from your posting, you may have issues collecting what is owed you. A consultation fee with an attorney will be good money spent to ensure you have the proper forms and wording to protect yourself. Best of luck to you...

[DebtHater]

You are legally responsible for the entire balance due (as well as him) regardless of what agreement you make with him.

Not true. An additional card holder is not necessarily responsible to the cc company. If he was a co-signer or it was a joint account, yes. Listing someone as a card holder only gives him or her permission to charge onto the account.

I was a card holder on one of my wife's CC accounts. I was not personally responsible to the debt.

[whipster1]

Not sure what OP's post has to do with BK or rebuilding credit afterward...