April 11th, 2007 by Questions
I am a supplementary card holder on a mastercard where my wife is the primary cardholder. The agreement says that I am responsible for any debt incurred. I have been a supplementary card holder for over 3 years now and not once have they reported on my credit bureau – the payments have never been past due until now.
I have 3 questions:
1) If they canï¿½t provide me with documents with my signature on it for getting the supplementary card, am i still liable?
2) We are unable to make minimums on the cards now, will the mastercard company start reporting to my credit bureau late payments? 3) If my wife files for bankruptcy, and they come after me for the debt, will they ask for the full amount or will i be able to assume the minimum payments and pay over time? If they ask for the full amount and I donï¿½t have it, will it then affect my credit in a negative way or would they work with me?
One Response to “Supplementary cards”
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April 11, 2007 at 5:26 pm, A licensed trustee said:
In regards to your first question, you probably need to speak to a lawyer. If the credit card company has you listed as a supplementary card holder and the primary stops making the payments then they will likely demand payment from you. If you don’t pay, they may decide to send the matter to Court.
In regards to questions 2 and 3, there’s no way to know until the credit card company confronts you. They may start reporting to your bureau, or not. They demand payment in full, or not. Each case seems to be decided on its wn merit (or rather by whomever you end up dealing with in the collections department).