Reply
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: General Questions on Seperating accounts

[ Edited ]

haulingthescoreup wrote:
My guess is that creditors will go after anyone with a pulse, not particularly caring if their target is actually liable. Money is money, and consumer ignorance benefits the lenders. :smileytongue:

 

You're not kidding!

 

But amongst the vultures, AmEx is the worst. 

 

Flashback to my first year in Canoe U ...  Up until that point I have never had a credit card or any type of credit and all of a sudden I started to get calls and letters from AmEx stating I owed them what in those days was a heck of a lot of money -- $7,000.  Worried, I called AmEx and they tried to tell me I owed $7k on my grandfather's American Express Card.  I explained to them that there is no similarity between our names or our addresses and, in addition, my grandfather passed away long ago.  They told me not to worry and they'd take care of the problem.  I then started to get offers to open a new account on an almost weekly basis -- all of which I ignored.

 

Fast forward to the end of my second year at Annapolis ... I get served with a summons and complaint on the now $10k AmEx account.  Worried, I again call AmEx and they tell me not to worry about it.  They recognize, they assured me, their mistake and promised it would be taken care of within hours.

 

First term of my third year and my account at Navy Federal is frozen and drained of all my stipend money.  I called AmEx and this time they tell me to go pound salt.  I am called in for a "chat" by the Superintendent who summarily reads me the riot act and threatens me in no unclear terms with dismissal and a bill for $200k for my education so far.  He gives thirty days to get my crap in one bag or abandon ship.

 

So I sue AmEx.  The judge is particularly impressed by AmEx's utter stupidity in even beginning to assume that I can somehow be obligated on the American Express account of a relative who passed away when I was under one year old and finds AmEx committed fraud upon the court and was grossly negligent.  AmEx gets spanked with slightly over $100k in real and punitive damages.  I clear $40k.

 

Any time someone walks into SJA with an AmEx problem I salivate.  :smileywink:

 

 

 edited for unneccesarily descriptive terminology :smileyhappy:

Message Edited by haulingthescoreup on 03-04-2010 07:13 PM
IAALBNYL
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: General Questions on Seperating accounts

"Canoe U", huh? :smileyvery-happy: * adds to list of great military slang *

It's hard to know what to make of whatever moronic internal collections schmuck at AmEx who decided to dog you. At what point does persistence bring more points than common sense and the ability to analyze data??

Congrats on winning one for the Joe Schmoe against a big corporation!

And this is an illuminating post for those who have no idea of the standards to which the military is held. We civilians can goober up our credit (and finances, and love lives, and everything else) as much as we like with no repercussions from our outside lives. But if you're in the service, you have no secrets.

I had a relative who was an officer who went through an agonizingly embarrassing visit with his CO, because his wife had bounced some checks. The military takes the concept of "family" very seriously indeed.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: General Questions on Seperating accounts


haulingthescoreup wrote:
"Canoe U", huh? :smileyvery-happy: * adds to list of great military slang *

It's hard to know what to make of whatever moronic internal collections schmuck at AmEx who decided to dog you. At what point does persistence bring more points than common sense and the ability to analyze data??

Congrats on winning one for the Joe Schmoe against a big corporation!

And this is an illuminating post for those who have no idea of the standards to which the military is held. We civilians can goober up our credit (and finances, and love lives, and everything else) as much as we like with no repercussions from our outside lives. But if you're in the service, you have no secrets.

I had a relative who was an officer who went through an agonizingly embarrassing visit with his CO, because his wife had bounced some checks. The military takes the concept of "family" very seriously indeed.

 

Others for the list: The Boat School and also Crabtown U.  :smileyhappy:

 

Even though the service branches have relaxed a bit on getting involved in one's personal financial affairs, it is still relatively common to find a service member getting either nonjudicial punishment or at least a counseling statement over mismanaged finances.  Heck, even an oral reprimand can mean delayed promotions. 

IAALBNYL
Regular Contributor
Posts: 113
Registered: ‎10-21-2007
0

Re: General Questions on Separating accounts

Just my advice.  Things will "change" once you begin the divorce proceedings.  Even if you're the exception, make it easier for both of you.  Separate your credit. 

 

Good luck.

Senior Contributor
Posts: 3,626
Registered: ‎10-13-2009
0

Re: General Questions on Separating accounts


recoverychick wrote:

Just my advice.  Things will "change" once you begin the divorce proceedings.  Even if you're the exception, make it easier for both of you.  Separate your credit. 

 

Good luck.


This is, unfortunately, the norm.  YMMV

IAALBNYL
Moderator Emerita
Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: General Questions on Separating accounts

DXH and I have fortunately avoided problems and pretty much stuck to what we agreed to in the beginning, only changing when it made sense to do so.

But I would point out that often divorce doesn't involve just the principals. There might well be one, or even two, other people (aka the GF/ BF) who might have some "useful" advice to confuse matters. And then there are P.O'd former in-laws, friends at the office, members of a divorce support group, you name it, all with their own agenda.

Separate out the credit. Grit your teeth and close the cards, re-title the cars, all the dreary stuff. You won't believe how much better you'll sleep on down the road.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.