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natt
Posts: 6
Registered: ‎05-07-2009
AUs and now the primary card holder is filing for BK7

I have been AU on my husband's credit cards since 2003. He is filing BK7 and has about 60k in cc debt.  I have my own cc that I opened in 08/2007, the second was in 10/2007 and the third was in 08/2008. 

 

In 10/2008 I changed my first name and already reported to the cc lenders and had have cc with a new name. I didn't report to the credit bureaus until 10 days ago. My question ; What is the impact?

 

 

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cobaltnv
Posts: 640
Registered: ‎09-02-2008
Re: AUs and now the primary card holder is filing for BK7

Welcome to the forums. From a legal point of view (and I am not a lawyer) AU's are not legally responsible for the debt of the primary; however, as a spouse you are potentially responsible. I would suggest getting removed from your husbands cc ASAP, as it will tank your credit when he files for Ch7.

Good luck 

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
Re: AUs and now the primary card holder is filing for BK7

natt wrote:

I have been AU on my husband's credit cards since 2003. He is filing BK7 and has about 60k in cc debt.  I have my own cc that I opened in 08/2007, the second was in 10/2007 and the third was in 08/2008. 

 

In 10/2008 I changed my first name and already reported to the cc lenders and had have cc with a new name. I didn't report to the credit bureaus until 10 days ago. My question ; What is the impact?

 

 



What is the impact of which? Changing your first name, or your husband's BK? (sorry to hear about that, btw)

First of all, get off your husband's cards immediately. Most AU cards stop reporting when you come off, although you'll probably have to wait for each one to update again on its regular schedule. If they do keep reporting, call up the bank and ask them to stop. As a last resort, dispute as "not mine." You do not want to have the slightest whisper of a BK indication on your reports.

Secondly, I would definitely add your new name to your credit reports. There might be problems with your own cards updating properly.
* 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
Member
natt
Posts: 6
Registered: ‎05-07-2009
Re: AUs and now the primary card holder is filing for BK7
cobaltnv wrote:

Welcome to the forums. From a legal point of view (and I am not a lawyer) AU's are not legally responsible for the debt of the primary; however, as a spouse you are potentially responsible. I would suggest getting removed from your husbands cc ASAP, as it will tank your credit when he files for Ch7.

Good luck 

Thank you. I will do that ASAP  

 

Member
natt
Posts: 6
Registered: ‎05-07-2009
Re: AUs and now the primary card holder is filing for BK7

haulingthescoreup wrote:

natt wrote:

I have been AU on my husband's credit cards since 2003. He is filing BK7 and has about 60k in cc debt.  I have my own cc that I opened in 08/2007, the second was in 10/2007 and the third was in 08/2008. 

 

In 10/2008 I changed my first name and already reported to the cc lenders and had have cc with a new name. I didn't report to the credit bureaus until 10 days ago. My question ; What is the impact?

 

 



What is the impact of which? Changing your first name, or your husband's BK? (sorry to hear about that, btw)

First of all, get off your husband's cards immediately. Most AU cards stop reporting when you come off, although you'll probably have to wait for each one to update again on its regular schedule. If they do keep reporting, call up the bank and ask them to stop. As a last resort, dispute as "not mine." You do not want to have the slightest whisper of a BK indication on your reports.

Secondly, I would definitely add your new name to your credit reports. There might be problems with your own cards updating properly.
What is the impact on my credit report and scores?
 
I have already changed my name on all 3 credit cards.
 
I still get  pre-approved letters from credit card companies in both new&old name. 
 
Won't  it be too late to get myself off from AU because my husband will have a hearing next week. 

 

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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
Re: AUs and now the primary card holder is filing for BK7
A BK is a score-killer. We're talking easily 100 points, once you add up all the collateral damage.

It might show up temporarily on your reports, but it should then come off. But in case your own creditors soft your reports and see an IIB (included in bankruptcy) notation and freak out, you might want to have him call the banks, have you taken off, request that they update this info to the CRA's, and then dispute the accounts as "not mine" if they do start reporting.

I'm not an expert at any means on how an AU card IIB would affect your scores. I just know that I'd be pretty frantic not to have that anywhere near my reports.

If any member with more specific experience can chime in, please listen to them over me, if their advice contradicts. Good luck!
* 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
Member
natt
Posts: 6
Registered: ‎05-07-2009
Re: AUs and now the primary card holder is filing for BK7

I think I will have to call them tomorrow. They're closed today :smileysad:

 

 

Member
natt
Posts: 6
Registered: ‎05-07-2009
Re: AUs and now the primary card holder is filing for BK7
ok..I have an issue now. One of my husband cc company, Wachovia Visa Signature, will not let him do anything about that account because it's in the BK. What esle can I do? 
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Susyquk
Posts: 504
Registered: ‎03-27-2009
Re: AUs and now the primary card holder is filing for BK7

natt wrote:
ok..I have an issue now. One of my husband cc company, Wachovia Visa Signature, will not let him do anything about that account because it's in the BK. What esle can I do? 

They may not let him do anything but you as an AU should still be able to instruct them to have yourself removed.

Member
natt
Posts: 6
Registered: ‎05-07-2009
Re: AUs and now the primary card holder is filing for BK7
[ Edited ]

Susyquk wrote: 

They may not let him do anything but you as an AU should still be able to instruct them to have yourself removed.


Well, He called the other card, BoA cc, and they said the same but they also said that they will not report the BK to my CR as it's not my account. 
 The FIA card didn't have any problems when he asked them to remove me as the AU. :smileysurprised:
 A big thank you to all of you :smileywink:

 

Message Edited by natt on 05-18-2009 11:37 AM