Re: Authorized User responsibility

Posted by anon (208.173.148.154) on May 29, 2002 at 16:28:55:

In Reply to: Authorized User responsibility posted by Vic on May 29, 2002 at 12:58:30:

Account "Users"
If you open an individual account, you may authorize another person to use it. If you name your spouse as the authorized user, a creditor who reports the credit history to a credit bureau must report it in your spouse's name as well as in your's (if the account was opened after June 1, 1977). A creditor also may report the credit history in the name of any other authorized user.

Advantages/Disadvantages: User accounts often are opened for convenience. They benefit people who might not qualify for credit on their own, such as students or homemakers. While these people may use the account, you—not they—are contractually liable for paying the debt.

Dispute the account as "Belongs to the Primary Account Holder" and have it removed.

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