Mom's bankruptcy/joint account - what to do? Please help!
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Posted by John on September 22, 2001 at 16:05:46:
Ok, here we go... my first credit card was in 1996 through Discover/Novus. It was a joint account with my mother since I had no previous credit experience. A few months later, I got another card and told her to cancel me off the first one. She said that she did but did not.
Late 2000, I applied for credit cards and they rejected me because the reporting agencies had a gas bill account of my fathers listed on my report. The discover account did not appear on my credit report at that time. Early 2001, my mom tells me that she is filing for bankruptcy. She shows me the bills she has in possession - she has not paid them for almost a year. I loan her money to complete the lawyers part of it.
May 2001 - I apply for credit. I am denied since there is a bankruptcy listed on my account. I get the credit reports and there is a Providian card listed as included in bankruptcy, issued in 1996. I never activated a Providian card for this account. The Discover/Novus account is now listed on my credit report as well where it was not before. She hid all paperwork from me about my name being on this outstanding debt. I have checked through the three credit agencies for verification. One has removed, two have "verified" that it was a joint account. I am wondering what my options are here. One, will a letter from my mother that I was not supposed to be part of this account mean anything to Providian? Two, can I still be liable for debts incurred when an account is transferred from one bank to another if I never activated a card or knew of an account? Three, how can a credit card exist - under two different banks - and not be reported on any of the major credit agency reports until my mother files bankruptcy? Four, can the account be reopened and paid off by me for them to remove the black marks from my account? Five, are there any other options? Thanks, John
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