Relieving cosigned credit card debt $10K

[Anonymous]

Im posting this per my Father,

I currently have 5 credit cards listing as follows

Citicard (2 cards) $6000 balance with CL of $6000 "maxed" 18 month no APR

GM Card $3700 with CL $10000 CL

Visa/Chase $2000 balance maxed

Visa/Chase/Amazon $1000 maxed

My daughters debt is joint account as primary holder on my cards while away at college. The joint accounts are the Citicards and the GM card. 99% of the debt on these cards was her doing that I was unaware of. Is there a way to relieve myself of these maxed cards and lower my overall debt being reported to the CBs. Im having difficulty getting approved for loans for personal use due to her debt. most likely because I show these cards maxed out on top of a mortage and car loan. She is making mininmum payments. I would like to find a way to solely put it in her name. This is even with a 750 credit score and spotless CR. Please help

[Anonymous]

Correction my daughter is an AU on these cards.

[dalebb]

welcome to the forums if i read that right, sounds like ur in big trouble, but my eye sight not all that good, il let others chime in

[dalebb]

cut her off!!!!!!!!!

[RockinRay]

I agree - you need to get her off of those cards for sure, and the sooner the better!

You will have to help her get them paid down if you can, but this is hurting you so I agree with dalebb...  CUT HER OFF!

Ray

[drkaje]

Paying them off yourself or her taking out a loan (in her own name) to pay them off are the only things I can come up with.

Others may chime in with more palatable options/opinions but that's the risk we all assume in co-signing.

[Anonymous]

Dad: My main concern is the Visas and GM card because they have APR (in her name solely) and shes trying to pay these and my no APR citicards she racked up that shes AU on. Ive tried increasing CL on the no APRs to transfer off the GM and Visas to allow some breathing room and consolidate the debt. No one can approve her for a No APR card in addition due to her cards being maxed and average CS. Im personally just trying to relieve myself of the debt situation and allow her to continue making payments without being dinged with APR. Should I keep Chp 7 as a last ditch effort?

[LS2982]

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@Anonymous wrote:

Im posting this per my Father,

I currently have 5 credit cards listing as follows

Citicard (2 cards) $6000 balance with CL of $6000 "maxed" 18 month no APR

GM Card $3700 with CL $10000 CL

Visa/Chase $2000 balance maxed

Visa/Chase/Amazon $1000 maxed

My daughters debt is joint account as primary holder on my cards while away at college. The joint accounts are the Citicards and the GM card. 99% of the debt on these cards was her doing that I was unaware of. Is there a way to relieve myself of these maxed cards and lower my overall debt being reported to the CBs. Im having difficulty getting approved for loans for personal use due to her debt. most likely because I show these cards maxed out on top of a mortage and car loan. She is making mininmum payments. I would like to find a way to solely put it in her name. This is even with a 750 credit score and spotless CR. Please help

I would cut her off the cards, and make sure she starts paying more than the minimum.

[Anonymous]

Im just kind of copying and pasting for him via our conversation hes not very computer savy

[drkaje]

Paying APR is the cost of doing business with them. Nothing is free.

Why would you want to go BK?