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My father's debt

Date: Fri, 05/28/2010 - 08:34

Submitted by anonymous
on Fri, 05/28/2010 - 08:34

Posts: 202330 Credits: [Donate]

Total Replies: 2


When my father was alive I had a credit card under his name to buy things for him or to do things at his request. If I spent any money on it for me I paid the bill for that. When he passed away he was carrying a high balance on it around $16,000.00. It is on my credit report and was charged off when he died. They never filed a claim in the estate. They have never come after me for the debt personally but is there anything I can do about my credit report? Having a $16,000.00 bad debt has seriously tanked my credit, it also has taken up a major part of my debt to income ratio. Please help!


I'm sorry to hear about your fathers' demise. Regarding your problem, from whatever you've written, I get the impression that you're the authorized user of your fathers' card. If you are, then you can easily contact the credit bureaus and dispute the mistake.

All the 3 major credit bureaus like Equifax, Experian and TransUnion allows authorized users to dispute the mistakes and get the account removed from their report. Deleting the charged off account will prevent your credit score from dropping.

As an authorized user, you'll be able to save your credit score from dipping. But, if you're a joint account holder with your father, then you'll be considered responsible for your fathers' debt and you've to pay it back or go for a settlement.


lrhall41

Submitted by anonymous on Fri, 07/16/2010 - 23:10

( Posts: 202330 | Credits: )