AUTHORIZED USER ON CREDIT CARDS

[CRF1219]

AFTER MY DIVORCE IN 1997, I WAS FORCED TO FILE FOR BANKRUPTCY. TO HELP ME REPAIR MY CREDIT MY FATHER ADDED ME AS AN AUTHORIZED USER TO MOST OF HIS CREDIT CARDS. HE HAS A EXCELLENT CREDIT HISTORY AND HE GAVE ME ONE CARD WITH MY NAME ON IT TO USE IF NECESSARY. ALL THE OTHER CARDS WITH MY NAME HE PUT AWAY AND THEY WERE NEVER ACTIVATED. I CURRENTLY AM TRYING TO REFINANCE MY HOUSE THAT I PURCHASED IN 2007,AND WAS TOLD THAT I HAVE 19 ACTIVE ACCOUNTS- ALL IN GOOD STANDING, BUT WITH BALANCES. AT FIRST I WAS A LITTLE CONFUSED BECAUSE I ONLY HAVE AMEX (WITH A BALANCE), TARGET, MACYS & L&T (WITH NO BALANCES). PLUS SOME STUDENT LOANS. I ORDERED MY CREDIT REPORT AND FOUND THAT ALL THE "AUTHORIZED USER" ACCOUNTS SHOW UP. THEY DON'T STATE THAT THEY WERE NOT OPENED BY ME, THEY ARE ALL IN GOOD STANDING (NEVER LATE), BUT THE TOTAL DEBT MAKES IT LOOK LIKE I LIVE BEYOND MY MEANS. CAN MY DAD SEND A LETTER TO THE CREDIT CARDS AND ASK THEM TO REMOVE MY NAME? ARE THE CREDIT REPORTING AGENCIES OBLIGATED TO REMOVE THESE ACCOUNTS FROM MY REPORT OR DO THEY HAVE ANOTHER WAY OF NOTING THAT THESE ACCOUNTS ARE NOT MY DEBT? IF MY FATHER, GOD FORBID, PASSED AWAY WOULD I BE LIBEL FOR WHAT IS OWED IF HIS ESTATE DID NOT COVER THESE DEBTS?

[Eagle]

Most likely the credit card company will let your father transfer the balances on to his cards. However, if you cancel all the cards that are in your name it may adversely effect your credit rating.

[CRF1219]

THE BALANCES ON THE CARDS DO BELONG TO HIM. I AM JUST LISTED AS AN AUTHORIZED USER, BUT THESE ACCOUNTS SHOW UP ON MY CREDIT REPORT. I WOULD LIKE THE "AUTHORIZED USER"
PART OF IT TO END. ON MY CREDIT REPORT IT LOOKS LIKE I PERSONALLY HAVE THESE ACCOUNTS OPEN IN MY NAME. I REALLY CANNOT DO ANYTHING ABOUT THIS ON MY OWN AND WOULD MY FATHER NEED TO REMOVE MY NAME FROM HIS ACCOUNTS BY CONTACTING THE CREDIT CARD CO.'S?