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Can a credit card user become a "join account holder" and "fully responsible for the debt" without written signature?
Hi,
Target Visa is claiming that a friend I added to my account is a joint account holder. Therefore, I cannot remove him. I'm told, "You would have to close your account and re-open a new account. I've asked for proof that he signed as a joint account holder about 3 times now; they say they'll send a copy of the application. I'm certain he did not sign as a joint account holder as I didn't really know him when I applied. I missed a payment and it's hurting his credit now.

So:
1) If they continue to not provide proof, what do I do to have him removed?
2) Isn't this illegal for them to do w/o his permision?

Thanks!
asked in credit card, credit, cosigner



Leohuberh answers:

Join account holder:
In the event you receive conflicting instructions from the undersigned, you are authorized at your sole discretion to decide as to what course of action to follow, which may include a freeze on the account until written uniform instructions are received from all of the undersigned; or the property may be mailed to the address of record; or an interpleader action may be filed in the appropriate court with the legal expenses to be recovered from the undersigned; or other action may be taken as you deem appropriate.

http://www.everbank.com/003OpenAccount.aspx

Co-signer. A person who agrees in writing to repay a primary borrower's debt if the borrower fails to do so. A co-signer is fully responsible for the debt, and any missed payments or default will be noted on the co-signer's and the primary borrower's credit reports.

Victim statement. A statement that can be added to your credit report to alert lenders that your name and other identification have been used to obtain unauthorized credit and asking that you be contacted by telephone before any new credit is issued. A victim statement remains on file for seven years unless you request to have it removed.

http://www.money-wise.org/articles/good_credit_leaders_guide_2007

1) You would have to close your account!
2) It is illegal to falsify a signature


/ reply

damijim2 answers:

Thanks for the reply.

I'm considering bankruptcy, but don't want to leave him with the debt; he only used the card a few times for small purchases. I opened this account about 4-5 years ago. So, I really need to get the proof, but they don't seem to have it.

As it has been so many years since I applied, it could be possible that he co-signed. We're both 99.9% sure he didn't ever sign anything and I just added him as an authorized user.

So, I - or the "co-signer" - don't want to file a suit just to see a copy of the application or any proof of him being a co-signer. They keep telling me they will mail proof and I never get it. I have already closed the account.

Is there anything legal that the co-signer or I can do to force the creditor to provide proof? Is filing a lawsuit the only way?

I have closed the account.

Thanks!


/ reply

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