topic Re: Possible Discover card CLD or closure.... Is there anything I can do? in Credit Cards

Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:14:24 GMT

Long story short, I have a joint account with my mother as the primary. We opened it in March of this year when her scores were near 700.

As of late her score reported on the discover website has continued to tumble mostly because my sister has moved in with my Mom because of Mom's health. Which is a good thing because someone is there all the time with Mom. But the bad thing is that my sister has been using Mom's credit cards and has almost all of them maxed out and also has been 30 days late on a car note Mom cosigned on. Mom knows my sister is using her cards, I just don't think she knows she is hurting her credit to the extent it has. I've been trying to help her pay down the balances, but it's a catch-22 because if I pay them to help Mom, my sister is the one that uses them and she'll probably run them back up.

Mom's score is now 570 now according to Discover. I check the discover site daily just waiting to see the account closed or the credit line of 2400 reduced to what the balance is ( it's 349.00, I pay this one)

So my question is: Since I'm joint on the account is there anything I can do to save this account or open another account in my name, possible. My scores are right around 690 now but I still have a couple old chargeoffs that are about 5 years old that have balances. And several that i have paid off from 5 years ago. I have been saving up to pay them off here real soon.

Any suggestion are welcome.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:18:32 GMT

Why don't you freeze credit on mom's account (discover has that feature) and change her login.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:25:04 GMT

I'd see if you can get your own card, as it sounds like the situation is going to be a disaster in the end. Also, you need to have a talk with your mother and make sure that other card is not getting used by anyone but you, while you pay it off and leave it paid off. Obviously, you know if it goes bad, so do you. And.....what the heck is your sister doing maxxing out her cards? That, to me is unacceptable and looks like someone is taking advantage. Is she an AU on those cards? If not, how is she using them? I watched my sister in law do the same thing to my mother in law because she had a huge gambling problem and kept taking cash advances, running mother in laws credit into the ground. We didn't find out until much later and the damage was done. Oh, one other thing, If you are an AU on any of mother's accounts, I'd be for getting myself removed.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:26:09 GMT

No one uses the discover card but me. It's mom's other cards that sis uses. Im just wondering if there's anything I can do to save that account. I've talked with mom about all the maxed out cards. But she basically tells me that my sis handles all the bills now. So Im kinda stuck on the other cards. But wanna save this one if possible.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Pway — Wed, 18 Nov 2015 22:30:20 GMT

I would remove myself from this card and obtain one in my name only. Since Discover is balance chasing, they are more than likely going to close the account sooner than later. I understand that you are concerned about your mother credit, but since she is not really concerned and you sister is doing all the damage I would just leave it alone. Your hands are pretty much tied as to what to do.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:31:19 GMT

I'm not so sure you can save the account from AA, but you can sure save your credit by making sure that account is paid. There are no guarantees that they won't reduce the CL and balance chase you. Be prepared for the worst. You sure it's a joint account, or are you AU? If AU, I'd get off that account asap, because joint reported bad action will hurt you..

Re: Possible Discover card CLD or closure.... Is there anything I can

Anonymous — Wed, 18 Nov 2015 23:08:59 GMT

To add to what everyone else has said there is something to be said to contacting a family attorney if your sister is taking advantage of your moms health for personal financial gain. It's never good to be.in these situations but from the sounds of it your sister is looking out for herself first over your moms financial well being.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Wed, 18 Nov 2015 22:57:16 GMT

@Anonymous wrote:
To add to whatever everyone else has said there is something to be said to contacting a family attorney if your sister is taking advantage of your moms health for personal financial gain. It's never good to be.in these situations but from the sounds of it your sister is looking out for herself first over your moms financial well being.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

FinStar — Wed, 18 Nov 2015 22:58:24 GMT

@Anonymous wrote:
To add to whatever everyone else has said there is something to be said to contacting a family attorney if your sister is taking advantage of your moms health for personal financial gain. It's never good to be.in these situations but from the sounds of it your sister is looking out for herself first over your moms financial well being.

This exactly. I realize family matters can be really sticky depeding on the situation but if not handled proactively, it can end up being a bigger mess down the road.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

CreditDunce — Thu, 19 Nov 2015 02:54:39 GMT

Since this is a joint account, I am not sure if Discover will balance chase/CLD. There are two people responsible for the bill afterall. That is assuming it is being PIF each month. None the less, I would close the account. Once all of the other cards stop working, the temptation to use the Discover will increase. Instead, you might want to consider adding your Mom as an AU on a couple of your other cards. An Amex would work well. You don't have to give her the AU card now. But it would be ready if things fall apart in a few months.

You could request your Mom's other credit card companies send you duplicate statements. It would be a way to see if the cards are being used for your Mom's benefit or not. From the OP, I am not convinced the issue isn't a lack of funds to pay the CC's (medical bills can be expensive). However, it doesn't sound like your Mom would be interested in that. I don't think the main issue is your Mom's credit. The main issue is to make sure your Mom's assets aren't being wasted. She will likely need them in the future.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 03:17:47 GMT

It sounds like she is being exploited. This makes me sick on my stomach. If you can't sit them down, You could contact an attorney or report it to the police.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 04:35:48 GMT

+ 1,000,000,000

@Anonymous wrote:
Why don't you freeze credit on mom's account (discover has that feature) and change her login.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 04:43:33 GMT

Family and finances can be a very difficult subject. You've been given some good advice in this thread. If you are the one that will ultimately have to correct any financial issues your sister causes then you definitely need to find a lawyer. You also need to apply for your own Discover card once your credit profile supports it. It's not worth it trying to keep an account open when you're constantly worried if your sister can gain access or if Discover will take AA. Personally, I would close the account. Good luck to you

Re: Possible Discover card CLD or closure.... Is there anything I can do?

NRB525 — Thu, 19 Nov 2015 05:14:35 GMT

@Anonymous wrote:
No one uses the discover card but me. It's mom's other cards that sis uses. Im just wondering if there's anything I can do to save that account. I've talked with mom about all the maxed out cards. But she basically tells me that my sis handles all the bills now. So Im kinda stuck on the other cards. But wanna save this one if possible.

Let's get everyone on the same page please.

Discover has NOT initiated AA yet. OP is concerned whether AA might happen but that is only a potential future event.

OP has control of the Discover card or cards, not yet clear how many cards there are.

The Discover account is safe. OP has control over that account, and monitors it for payment due.

OP is taking responsibility to ensure the Discover account is paid on time.

While the larger issue of the sister spend seems a concern, regarding the Discover account, I don't see that there is any issue at all, as long as OP is in control of the plastic and the account log on.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

score_building — Thu, 19 Nov 2015 08:23:47 GMT

@NRB525 wrote:
@Anonymous wrote:
No one uses the discover card but me. It's mom's other cards that sis uses. Im just wondering if there's anything I can do to save that account. I've talked with mom about all the maxed out cards. But she basically tells me that my sis handles all the bills now. So Im kinda stuck on the other cards. But wanna save this one if possible.
Let's get everyone on the same page please.

Discover has NOT initiated AA yet. OP is concerned whether AA might happen but that is only a potential future event.
OP has control of the Discover card or cards, not yet clear how many cards there are.
The Discover account is safe. OP has control over that account, and monitors it for payment due.
OP is taking responsibility to ensure the Discover account is paid on time.

While the larger issue of the sister spend seems a concern, regarding the Discover account, I don't see that there is any issue at all, as long as OP is in control of the plastic and the account log on.

Pump the brakes, what page are we on? The Discover card is just inches away from CLD/ closure by issuer unless there's a big change in how the account holder's credit/payment is managed by DD, like pronto. With a nose dive from 700s to 570 the likelihood of AA is very high, whether or not OP is in control of the card. At 570, the OP is no longer even near an approvable score range for the card, the writing is on the wall.

OP get your own Disco and ditch this one. Explain to mom, her profile is in virtually in ruins due to the way DD is managaging/ spending and if someone doesn't intervene to ensure DD is accountable for spending, it could could get even worse really fast-in addition to having her scores tanked, accounts may be closed and credit ruined.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Imperfectfuture — Thu, 19 Nov 2015 10:54:33 GMT

@Pway wrote:
I would remove myself from this card and obtain one in my name only. Since Discover is balance chasing, they are more than likely going to close the account sooner than later. I understand that you are concerned about your mother credit, but since she is not really concerned and you sister is doing all the damage I would just leave it alone. Your hands are pretty much tied as to what to do.

Definitely this. I have family that does not understand, though my sis comes the closest. If Mom is not willing to take control, sever the relationship (card wise) since you can not control your sister. Take it from someone with severe dysfunctional family background. Get your own card,

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 13:13:18 GMT

Yikes what an awful situation. If I were you OP, I would pay the balance off of this card & close it immediately. If you have a 690 Fico you are in the range of getting your own Discover card, depending on what else is on your file.

It's a shame that your sister is doing this to your mother. And it sounds like your mother either doesn't care or doesn't really know just how serious this matter is.

I wish you all the best!

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 13:53:38 GMT

Thanks for all the replies. It is a bad situation for sure. Sis is helping a lot on one side because she is taking care of Mom. Mom is competent to know what is happening. I think at this point in her life, she's 71, that it just doesn't matter to her. She has a home, a paid for car. She let's sis use the cards as she wants. I don't think my sis is taking advantage of my Mom. She is letting her know when she uses them, and lots of times it's for stuff Mom actually needs. The bills are paid, just maxed out. Sis has never been good with managing credit.

I've thought about getting a loan and paying them off. Everything totals under 5000. My worry with that is that if I did, they'd just get ran right back up.

That's why I was wondering what I could do to save the one I use. Because I have no control over the others. I feel like its just a matter of time before some sort of adverse action happens. I really like the discover card. But I guess at this point whatever hspens, will happen. I'll just keep using it and paying it till Discover says no more.

Don't yet qualify for my own card, past charge offs from a divorce, most are paid but of course still there for a couple more years.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

takeshi74 — Thu, 19 Nov 2015 14:04:58 GMT

@Anonymous wrote:
No one uses the discover card but me. It's mom's other cards that sis uses. Im just wondering if there's anything I can do to save that account.

Doubtful IMO. A given account doesn't exist in a vacuum. Issues with other accounts indicated on reports can cause creditors to take adverse action. If you want to save the Discover account then you need to help your mom out with the other accounts that your sister is using. Adverse action on that Discover account (granted, this is still an IF) due to abuse of your mom's other credit accounts will affect you as well if you're a joint account holder. I'd suggest looking into getting yourself out of that joint Discover account if you can't address the others. That Discover account will probably have to be closed to do that.

It's not my or any other person's business but it sounds like the 3 of you need to have a frank and open discussion on this so everyone is on the same page.

@Anonymous wrote:
My scores are right around 690 now but I still have a couple old chargeoffs that are about 5 years old that have balances. And several that i have paid off from 5 years ago. I have been saving up to pay them off here real soon.

Carefully research in Rebuilding on these. You want to aim to have these removed -- not just paid.

Re: Possible Discover card CLD or closure.... Is there anything I can do?

Anonymous — Thu, 19 Nov 2015 15:35:56 GMT

Taking a loan to pay it back goes from bad to worse. You need triage first. Extract yourself from that account and let it be your sister & mom's problem.

Making that problem yours is how personal finance problems ruin a family's finances. Keep tabs on mom & sis by all means, help out with bills when you can, but don't tie your credit to theirs, especially if sis is bad with credit and mom doesn't care.