Authorized User on my card about to declare bankruptcy - what to do?

[saaws]

I have an AU on my cards who is planning to declare bankruptcy. I have him on three on my cards.

Chase Continental OnePass

HSBC Best buy Platinum

AMEX Blue Cash preferred (for him to be able to buy grocies for the house without me there)

We live together, but we do not share the same last name, so I am not sure if my cards show up on his credit report.

I know that AMEX does require AU's social number, but the other two just require AU's name. When he declares bankruptcy,

will my credit report/profile be affected at all?  I assume for Chase and HSBC, as long as he doesn't include the accounts in BK,

which I doubt is possible, It wouldn't affect me.

But the real question is AMEX.  He has an AMEX costco card on his own, and he will include it in bankruptcy.

Does AMEX allow me to add an AU who burned them? but he's already AU on my card. 

Would AMEX cancel his BCP card when he declares bankruptcy including his costco account?

If AMEX cancels his BCP card (which is AU to mine), would this affect me at all?

If so, should I close the AU account before he declares bankruptcy?

*P.S. I wasn't sure if I had to post this in bankruptcy section, but this is more about AU aspect.

[LS2982]

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@saaws wrote:

I have an AU on my cards who is planning to declare bankruptcy. I have him on three on my cards.

Chase Continental OnePass

HSBC Best buy Platinum

AMEX Blue Cash preferred (for him to be able to buy grocies for the house without me there)

We live together, but we do not share the same last name, so I am not sure if my cards show up on his credit report.

I know that AMEX does require AU's social number, but the other two just require AU's name. When he declares bankruptcy,

will my credit report/profile be affected at all?  I assume for Chase and HSBC, as long as he doesn't include the accounts in BK,

which I doubt is possible, It wouldn't affect me.

But the real question is AMEX.  He has an AMEX costco card on his own, and he will include it in bankruptcy.

Does AMEX allow me to add an AU who burned them? but he's already AU on my card. 

Would AMEX cancel his BCP card when he declares bankruptcy including his costco account?

If AMEX cancels his BCP card (which is AU to mine), would this affect me at all?

If so, should I close the AU account before he declares bankruptcy?

*P.S. I wasn't sure if I had to post this in bankruptcy section, but this is more about AU aspect.

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IMO, I would cut him off on all of my accounts to be on the safe side. In all honesty, there's a reason why he's filing bankruptcy, and it doesn't include you at all.

[saaws]

I appreciate your comment and I am also thinking about doing that, but I am actually the one who advised him to consider filing bankruptcy. So I am included in a way.  I just want to know all possibilities before deciding what to do.

[LS2982]

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@saaws wrote:

I appreciate your comment and I am also thinking about doing that, but I am actually the one who advised him to consider filing bankruptcy. So I am included in a way.  I just want to know all possibilities before deciding what to do.

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What is his situation?? Is there any way round it without doing  that?

[saaws]

full disablity a couple years ago, burdened with medical expenses, his total credit debt amount is about 130% of his annual income. He's backlogged one year in federal income tax from IRS, and just had to make another settlement plan (with a hefty penalty) with IRS for this year's even without playing off last year's.

[jamesdwi]

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@saaws wrote:

I have an AU on my cards who is planning to declare bankruptcy. I have him on three on my cards.

Chase Continental OnePass

HSBC Best buy Platinum

AMEX Blue Cash preferred (for him to be able to buy grocies for the house without me there)

We live together, but we do not share the same last name, so I am not sure if my cards show up on his credit report.

I know that AMEX does require AU's social number, but the other two just require AU's name. When he declares bankruptcy,

will my credit report/profile be affected at all?  I assume for Chase and HSBC, as long as he doesn't include the accounts in BK,

which I doubt is possible, It wouldn't affect me.

But the real question is AMEX.  He has an AMEX costco card on his own, and he will include it in bankruptcy.

Does AMEX allow me to add an AU who burned them? but he's already AU on my card. 

Would AMEX cancel his BCP card when he declares bankruptcy including his costco account?

If AMEX cancels his BCP card (which is AU to mine), would this affect me at all?

If so, should I close the AU account before he declares bankruptcy?

*P.S. I wasn't sure if I had to post this in bankruptcy section, but this is more about AU aspect.

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stop, do not pass go, drop him as an authorrized user as soon as possilble you don't want any mention of the BK to show up on your reports, you don't want some creditor that pulls his report to see you and start contacting you. Your creditors could possibly freak as well since you were willing to expose credit card company to your friend with credit problems,  Amex has been known to FR for less. 

[pizzadude]

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@jamesdwi wrote:

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stop, do not pass go, drop him as an authorrized user as soon as possilble you don't want any mention of the BK to show up on your reports, you don't want some creditor that pulls his report to see you and start contacting you. Your creditors could possibly freak as well since you were willing to expose credit card company to your friend with credit problems,  Amex has been known to FR for less. 

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+1.   Get him off as an AU and also as AMEX additional cardmember.    With most AU accounts you are liable for everything that the AU charges so assuming that he drops the ball then the creditors might come after you.     AMEX is a little different, at a minimum each additional cardmember is personally responsible but I believe they can also come after you.     You need to be proactive with this, muy rapido.

[saaws]

he's not going to file until I tell him it's good to go.  So the best thing to do is for me to drop him as an AU on all three, then check his credit report and ask the bureaus to drop my cards from his report by arguing that they are not his card?  Am I thinking right?

[saaws]

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@pizzadude wrote:

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@jamesdwi wrote:

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stop, do not pass go, drop him as an authorrized user as soon as possilble you don't want any mention of the BK to show up on your reports, you don't want some creditor that pulls his report to see you and start contacting you. Your creditors could possibly freak as well since you were willing to expose credit card company to your friend with credit problems,  Amex has been known to FR for less. 

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+1.   Get him off as an AU and also as AMEX additional cardmember.    With most AU accounts you are liable for everything that the AU charges so assuming that he drops the ball then the creditors might come after you.     AMEX is a little different, at a minimum each additional cardmember is personally responsible but I believe they can also come after you.     You need to be proactive with this, muy rapido.

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The total amount he charged on his AU account last couple months is less than $1K, I really put him on AU for grocery purchases and house expenses and he has been great at sticking to that. I guess I really need to know if his report shows my card more than anything?

[Anonymous]

 are you planning to kepp this card?

Chase Continental OnePass

HSBC Best buy Platinum

AMEX Blue Cash preferred (for him to be able to buy grocies for the house without me there)

if yes remove him from AU then it will not affect you when he file BK..

if not consult with your attorney..