Credit madness.QA My mother has gotten several credit cards in my name and has defaulted on them, which has ruined my credit. She got one when I was 17 and another last year when I was 26. She got the last one saying [it was] to improve my credit, but she has not kept up the payments. I am the primary cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold , but she had the cards. Is there anything I can do besides paying them myself? --N. Baker Tallahassee, FL The first thing you want to do is close the accounts! At the very least, it'll prevent your morn from using the accounts and stop further damage to both of your credit profiles. If you choose to keep the accounts open, contact the credit card companies in writing requesting that they remove your mother as an authorized user authorized user Radiation physics A person who, having satisfied the applicable training and experience requirements, is granted authority to order radioactive material and accepts responsibility for its safe receipt, storage, use, transfer and disposal . In addition, you have the right to include an explanation on your credit report, alerting creditors to the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or surrounding the accounts. However, as the primary cardholder, you are liable for the debts in question. "What this illustrates is that before you cosign cosign v. to sign a promissory note or other obligation in order to share liability for the obligation. for another person or add a person as an authorized user on your account, you have to think it through and understand that if he or she defaults, you've essentially entered into a joint account arrangement, so you're responsible," says Greg McBride, senior financial analyst with Bankrate.com. Since you are responsible, don't delay in making payments. Call the credit card companies and try to negotiate to pay off the debts. Once you've made the agreements, get everything in writing. Despite her track record, perhaps your mother can help with making payments as well. Mail your consumer empowerment em·pow·er tr.v. em·pow·ered, em·pow·er·ing, em·pow·ers 1. To invest with power, especially legal power or official authority. See Synonyms at authorize. 2. questions to Ask Your Advocate, BLACK ENTERPRISE130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011 or send an e-mail to sykest@blackenterprise.com. |
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