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Joint Account & CC questions.

Member

Joint Account & CC questions.

Hello All,

I have two new questions for everyone today.

1) The law regarding adding yourself as an AU to another’s account is changing. As I understand, you can STILL get the benefit of adding yourself to another better creditors account, but it must be a “joint” account.
a) What is the real impact to creditor in this case?
b) How exactly would this work? Would the creditor have to open a new account?
c) OK, basically I don’t know anything about it. Anyone know anything about it...




2) Look at the account below. I talked with Capital One this AM. They are willing to change the comment from “Settlement Accepted’ blah blah”, but it will stay as CHARGE OFF, that is if I pay 350.78.
a) I will pay the 350 regardless, but what should I expect out of this? Will it change my score, or help in any real way?

Account Number: …………XXXX Current Status: CHARGE-OFF
Account Owner: Individual Account. High Credit: $0
Type of Account :
Revolving Credit Limit: $0
Term Duration: Terms Frequency: Monthly (due every month)
Date Opened: 11/2003 Balance: $0
Date Reported: 03/2007 Amount Past Due: $0
Date of Last Payment: 11/2006 Actual Payment Amount: $0
Scheduled Payment Amount: $0 Date of Last Activity: 05/2006
Date Major Delinquency First Reported: 12/2006 Months Reviewed: 40
Creditor Classification: Activity Description: Paid and Closed
Charge Off Amount: $959 Deferred Payment Start Date:
Balloon Payment Amount: $0 Balloon Payment Date:
Date Closed: Type of Loan: Credit Card
Comments: Settlement accepted on this account,
Charged off account
81-Month Payment History
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007 * *
2006 * * * * * 30 60 90 120 150 * CO
2005 * * * * * * * * * * * *
2004 * * * * * * * * * * * *
2003 * *





Thanks
TBR
Message 1 of 4
3 REPLIES
Member

Re: Joint Account & CC questions.

Can anyone answer these questions? Self bump. TBR
Message 2 of 4
Member

Re: Joint Account & CC questions.

I'm going to bump this thread once more. If no interest in the questions, I will stop posting to this thread. Any input welcome. Thanks TBR
Message 3 of 4
Highlighted
Moderator Emeritus

Re: Joint Account & CC questions.



TBR wrote:
Hello All,

I have two new questions for everyone today.

1) The law regarding adding yourself as an AU to another’s account is changing. As I understand, you can STILL get the benefit of adding yourself to another better creditors account, but it must be a “joint” account.
a) What is the real impact to creditor in this case?
b) How exactly would this work? Would the creditor have to open a new account?
c) OK, basically I don’t know anything about it. Anyone know anything about it...




2) Look at the account below. I talked with Capital One this AM. They are willing to change the comment from “Settlement Accepted’ blah blah”, but it will stay as CHARGE OFF, that is if I pay 350.78.
a) I will pay the 350 regardless, but what should I expect out of this? Will it change my score, or help in any real way?

Account Number: …………XXXX Current Status: CHARGE-OFF
Account Owner: Individual Account. High Credit: $0
Type of Account :
Revolving Credit Limit: $0
Term Duration: Terms Frequency: Monthly (due every month)
Date Opened: 11/2003 Balance: $0
Date Reported: 03/2007 Amount Past Due: $0
Date of Last Payment: 11/2006 Actual Payment Amount: $0
Scheduled Payment Amount: $0 Date of Last Activity: 05/2006
Date Major Delinquency First Reported: 12/2006 Months Reviewed: 40
Creditor Classification: Activity Description: Paid and Closed
Charge Off Amount: $959 Deferred Payment Start Date:
Balloon Payment Amount: $0 Balloon Payment Date:
Date Closed: Type of Loan: Credit Card
Comments: Settlement accepted on this account,
Charged off account
81-Month Payment History
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007 * *
2006 * * * * * 30 60 90 120 150 * CO
2005 * * * * * * * * * * * *
2004 * * * * * * * * * * * *
2003 * *





Thanks
TBR

One CRA will drop giving credit to AU in sept. and the others are to follow next year. Not sure if or when this will happen.
 It is up to the CCC ...some have said that they would need to open a new account in order to have it as joint and that they would pull both CR.....other CCC have changed to joint with no problems.....
 
As to what you are asking about Cap1....I have never seen anything like you posted. It looks to new to be past SOL.
I will say this about Cap1 though.......do not trust a word that they say!!!!!!!  everything in writting!!!
 
Have you tried a PFD?
Message 4 of 4