Could having a joint account affect the credit card debt liability for the authorized signer? 8 Answers as of December 21, 2010

Does having a joint checking/savings alone, affect liability toward credit card debt on the "authorized signer"(not cosigner)?

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DiManna Law Office, LLC.
DiManna Law Office, LLC. | Dawn DiManna
No, it should not.
Answer Applies to: New Hampshire
Replied: 12/21/2010
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
It should not affect authorized users, however errors are made all the time. The authorized user may have to file a complaint with the credit reporters.
Answer Applies to: California
Replied: 12/21/2010
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
Be careful with joint accounts for non married people where one is going to file bankruptcy. Many banks are now freezing accounts. I suggest moving bank accounts and separating funds. Do not bank where you owe money. If you are married, this does not apply.
Answer Applies to: California
Replied: 12/21/2010
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
Yes. The bankruptcy of the primary will shift the liability to the signer.
Answer Applies to: Tennessee
Replied: 12/21/2010
Bankruptcy Law Office of Robert Weed
Bankruptcy Law Office of Robert Weed | Robert Weed
If both the checking/savings and credit card are at the same credit union, then you probably signed something agreeing to that. If the credit card is garnishing you, they could garnish the joint account. Otherwise, I don't see how.
Answer Applies to: Virginia
Replied: 12/21/2010
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    An authorized user of a credit card is not liable to the bank for the credit card debt. However, if the joint account is with the person liable for the credit card debt and that person does not pay and gets sued, then the judgment against that person could be enforced by levying the joint bank account with that person (the judgment debtor). The creditor does not know who the owns the money in the bank account. They can take it all if it is in both your name and the name of the person who owes the money. You might claim the money belongs only to you and claim it not subject to the levy but you will have to prove to the court that the judgment debtor does not own the money. That might be very hard to do. You should not have a joint account with anyone that owes money if you want your money to be safe.
    Answer Applies to: California
    Replied: 12/20/2010
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Not that I am aware of.
    Answer Applies to: California
    Replied: 12/20/2010
    Law Offices of Lady Justice
    Law Offices of Lady Justice | Mona Patel
    Having a joint account makes both parties liable for the debt. Authorized signer is added onto a account to make purchases but is not actually a joint account. It is best to call your credit card company and ask.
    Answer Applies to: California
    Replied: 12/20/2010
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