01-13-2012 08:23 AM
Hi everyone I am new to the site and I am trying to rebuild my credit. The first question I have is this. I was married and got a divorce in 2007 I had 2 accounts a Macys Store Card which has a 1089.00 balance and A macys Visa card thats listed as a Charge Off and I am paying a CA on a payment plan. I know the agencys dont really care if a acount is with 2 people or not and you both are binded to it. I have heard that you can contact the agencys how ever and let them know that you arent married anymore? What do I do if I can do that? Also does it really change anything on the report? Thank you
01-13-2012 08:33 AM
Usually most credit card accounts will have the primary account holder and an authorized user. If you are an authorized user you can usually contact the credit card provider and have them take you off the account. You might have to fill out a form or something. If you are the primary account holder I don't believe that there is any impact on your credit. You are ultimately responsible for those cards no matter what.
01-13-2012 08:36 AM
I know for sure that I am the authorized user I had no credit history at the time. She is the Primary so what would I exactly tell them when I contact them? I was under the understanding that I am just as responsible as her but she isnt paying a dime on either of these accounts.
01-13-2012 08:45 AM - edited 01-13-2012 08:46 AM
Pull your credit reports. There's a field called "Account responsibility" or something like that. Make sure it says "Authorized User". If that the case, you could call the CC and ask them, but you can also dispute as "not mine". It wouldn't be yours if she's the sole account holder. Now don't dispute if it says "Joint"; that could create some issues. There are other steps you'd take.
ETA..I'll add that per the divorce you might be equally as responsible. But divorce and credit reporting are two different things.
01-13-2012 09:24 AM
I contacted Macys they said I am listed as joint.
Then unfortunatley, you owe the money. Read up on the PFD process.
01-13-2012 09:44 AM
spoke with capital management they said if I pay it off as a settlement or paid in full they can send me letters to send to the bureaus and macys. They however dont showup on my credit report so there is nothing to delete from them. Where do I go from here? When I spoke on the phone with Macys they said they dont change accounts to say anything diferent. I dont want it to say CHARGE Off anymore especially if I am paying 700 dollars to pay it off and my exwife is doing to help me. Thank you for the quick responses everyone.
01-13-2012 01:02 PM
This is what its like on my report
Past Due 1049.00
Account Status Closed
Payment Status Charge-Off
Comments: Credit Line closed grantor request reported by subcriber.
Capital management is the collector they dont show up on my report. I have agreed with them to pay 638.00 dollars and make the early payoff. In return they said they would fax me the payoff letter and all the info I need to send to Macys and to the 3 agencys. Does that sound like a good deal to do?
01-13-2012 01:42 PM - edited 01-13-2012 01:43 PM
In return they said they would fax me the payoff letter and all the info I need to send to Macys and to the 3 agencys. Does that sound like a good deal to do?
No, sounds like they are providing you a letter saying it's been paid whereby Macys would update as a paid charge-off. The CA cannot force Macys to delete or change their balance or reporting. Macys must update as paid though once they learn of the settlement.
If I had that, I would completely ignore the CA. They are assigned by Macys to collect, but they don't own the debt and they won't report. I'd deal directly with Macys via a PFD. You can always include the $638 as a settlement for the PFD offer.