My mother in law is filing bankruptcy and I'm a user on her credit card what happens to my credit?
My mother in law has a store credit card and my husband is listed as a user not co applicant and she is thinking about filing bankruptcy. On his last credit report the card does show up on his report. Do we need to remove him as an authorized user to protect his credit? If we do, will that affect his score? If she closes the account does that affect his score?
Posted February 19th, 2010 in Bankruptcy Q and A. Tagged: credit report, filing bankruptcy, mother in law, score, store credit card.
It should not affect your husband’s credit. However, credit cards are huge entities that do shoddy work. They’ll send out negative reports to the three big credit bureaus. Sure, you can write letters and fight it, but it won’t be fun.
To save yourself some sanity and work in the long run, have your mom call and remove him. Don’t specify bankruptcy as a reason, but have your mother simply state that she doesn’t feel comfortable giving him access to her cards.
February 19th, 2010 at 10:45 pmit has no effect on your husband’s credit score unless he is also named on the account as the party responsible for paying the bill. authorized users are not obligated to pay the bill. that card will not be active for much longer.
February 19th, 2010 at 10:45 pmRemove all authorized users on the account before she files bankruptcy
February 19th, 2010 at 10:45 pmYes get him off the account NOW. Why chance the repercussions
February 19th, 2010 at 10:45 pmMaybe she’s filing bankruptcy because she has too many adults using her credit card.
February 19th, 2010 at 10:45 pm