CC question

[Beyond Bedlam]

I'm a newbie here but have been lurking here for several weeks. I had been brought up to believe that only deadbeats filed for bankruptcy---so it is difficult for me to admit my "failing" and am terrified of the road ahead. But my financial life is out of control and bankruptcy is the only way out. I have read many of the threads and have learned a lot. Many thanks to all.

My question is this: I am filing chapter seven. I have a credit card that has my sister's name on it. Do I include this card in my list of debts. Is my sister liable for this debt since her name is on the card? (We were offered this card when we were in college together but the debt is totally mine.) My sister is aware of my predicament and has offered to pay it in full but she would have to borrow to do this. I do not want her in this same vicious cycle. I have read where anything over $600 in payments within the 90 day period is taken and shared with other debtors who weren't paid anything. Does this apply here? Any help would be appreciated and very sorry if I am not stating this clearly. My mind is a wreck right now.


BB

[annikasaunt]

Is it a card only in her name? If so then it would not be included in your bk. If it is a joint account or has you listed as an authorized user then you would include it in your bk.

[Minnymouth]

Who opened the account?

You?
If your sister is on there as an "authorized user", then she too is responsible for the card.
You must list it on your bankruptcy, but then the cc company will turn to your sister for the balance due. She can then keep making payments on it for you and her or she can pay it off.


Sister???
NOW if the card is in your sister's name only and you owe her for charges on it............. it is not your debt (legally) and would not be included in your bankuptcy.
It's then treated as a "hidden debt" that you owe your sister...... to be paid back at a later date to keep peace in the family.

[StaciMM]

If your name is on the card as a responsible party, you have to include it. If she is a joint card holder, then she will still be held responsible for the balance. If she is just an authorized user, she won't be.

[Beyond Bedlam]

I opened the account. A few months later, I got an offer to add another name to the account. That's when my sister said, "Sure put me down." That was about 6 or seven years ago. The bill I get has both our names on it. So I guess my sister is liable. I will be seeing an attorney soon so I guess he will clarify it for me. Thanks for the time you took to answer.

BB

[KevinR]

I opened the account. A few months later, I got an offer to add another name to the account. That's when my sister said, "Sure put me down." That was about 6 or seven years ago. The bill I get has both our names on it. So I guess my sister is liable. I will be seeing an attorney soon so I guess he will clarify it for me. Thanks for the time you took to answer.

BB

Hmmm, usually when they just add someone to the account it's as an authorized user.

But if that was the case her name shouldn't be on the bill. When you got her a card, did she fill out paperwork or did you just give them her name?

[Jenny]

Getting a card with someone else's name on it means that person is an authorized user. Your sister isn't responsible for any of the debt. You can discharge it all in your bankruptcy. The account will be reported as Included in Bankruptcy on your sister's credit report if you file on it. That will hurt her credit.

[FilingOnMyOwn]

Unless your sister had to apply using her social security number, than this account is only yours and nothing to do with her.

[Beyond Bedlam]

From what I remember she didn't fill out anything. I just put her name down. (It's hard to remember because I have so many CCs.) But that's the only one with her name on it. Thanks again for the opinions.

BB

[SinkingFast]

Try looking at a copy of your credit reports.

http://www.freeannualcreditreport.com

You'll see on the Credit Reports if you are listed as the primary and she's an authorized user, of if the CRA's are reporting the acct as joint.

We have several CC's that I know Hubby was the primary on and I was just an authorized user, and visa versa. All but one of those accts is now showing Joint. Only one shows whichever of us as primary and the other as authorized user.

That might give you an idea of how the acct is viewed.

Or call the CC company and ask. You could tell them it's your sister, and she's getting ready to buy a house. That's she's checking on her accts reporting prior to application. That you need to get this cleared up for her before she applies for a home loan.

We don't have to tell everyone all our biz and why we wanna know things, do we??!!