Question:
I had a visa for over 10 years which was included in my bankruptcy. Last year I got a supplement card for my spouse to use. Now they say it is a joint account due to this supplement card and my spouse has to pay the account in full immediatly and they won't accept any payments, etc. It is classed a bad debt due to the bankruptcy.
Well, I pulled our credit reports and the visa IS on mine and states it is an "Individual Account" unlike items we got together that my spouse is allowed to continue paying.
On his report it is not even there. There wasn't even an inquiry when I got the supplement card. There was an inquiry made WHILE I was on the phone with them to his report.
Anyway, does he have to pay my visa as they say? Can they ruin his credit if it's not even listed as his debt?
Thanks!!!
Answers:
An emergency situation caused a huge credit card debt in your name and now the collection agencies nag you all day for recovering the money. What to do in such a situation? Situation is no doubt bad but all is not lost, it can be stopped from getting worse if you follow these steps.
Don't shy away from collection agents. Answer their calls politely, tell them that you intend to pay all the debt and are willing to negotiate.
Inform the credit card company about your emergency situation and the debt it caused. Explain to them your financial condition, and any foreseeable improvement that you are able to visualize. Credit card companies thrive on their clients and they don't want to loose them. A client who is willing to repay all the debt is a very good asset for them, which they would like to keep forever.
If you are unable to handle debt personally, seek credit counseling and get pertinent advice, so as to get rid of the debt as soon as possible.
If you have more than one credit cards and the confusion on handling their repayment schedule caused you this debt, try debt consolidation. It can be both secured and unsecured. Debt consolidation will help you turn multiple credit card debts into a single one with easier repayment option. Raed more from: http://www.credit-card-gallery.com/credi...
Well...the 1st question is why would you reaffirm the debt by getting a new card. You already know that creditors are ruthless, and they will do anything they can to get their money. I would say you need to conctact a lawyer because this has to do with the bankruptcy...but since you reaffirmed the debt one of you is responsible for it.
If you did not reaffirm the debt and your husband was added as a authorized user and not as a joint or co-signer, then there is nothing the credit card company can do to him.
I wouldn't go by one credit bureau report there are 3 different ones and each one may get different reports. My advice would be to do as court ordered and contact the second card issuee and discuss the situation. If nothing else probably the best solution would be to pay it off if it is within your means. Get the B/R settled and then reapply.
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