I NEED URGET CREDIT ADVICE!! HeLP!?

Question

Okay, I am 19. I have 2 credit cards that I got just to build my credit which WAS going perfect.

My mom has her own problems with WAMU. She owes them $13,000. Since she is very sick, she put me on her card so I could talk to wamu for her about her debt, etc...

I just got my first credit score and WAMU is on it. she is about to declare bankruptcy and i am scared and sick to my stomach thinking my credit is going to be smashed, i wont be able to get a phone, apartment, car, anything HELP.

Wamu does not communicate with me, no matter how nice or how demanding I am. They are a bunch of indians that only repeat what there computer says, they do not help, they do not listen, its worthless to even call them unless i could call some sort of actual corp. office, not the d**n Indian lines.

Who do I call? What will happen? Someone please shed some (good) light on the situation. Thank you very much for any answers that help me. I am in serious worry.

Answer 1

First of all I would get my name removed even though technically you are only like an authorized user. As an authorized user you are not liable for the account or any other charges, however if you were added as a secondary cardholder or a joint member you are liable and just ruined your credit history. Which one are you currently on her account?

After removing myself, I would advise to get legal advice in order to represent your mom or speak on her account rather than add yourself and risk your credit. They will be able to help you. Power of Attorney is what you need...Andrea is right.

Answer 2

I hope your mom put you on the account strictly as an authorized user and not as a joint user.

If she put you on as an AU, have yourself removed immediately.

If she put you on as a joint, you're screwed. You will be liable for the account.

When you call and get an overseas rep, demand to speak to an american supervisor that is in the U.S. (yes, you have that right)

If she is planning on defaulting and going bankrupt, I don't know what you are trying to get done by talking to them so I can't say much more than I already have.

Except to repeat what I mentioned above - get your name off the account as fast as you can.

I hope your mom feels better soon.

+++

edit

Unless you have a thick file and other credit cards with very high credit limits and low utilization - then yes, that card is hurting your scores by raising your utilization.

One of the better utilization percentages is to use 30% or less of your overall and individual credit limits.

The ideal utilization is 10% or less.

Plus, if she is late or just stops paying , that will kill your scores.

Answer 3

If WAMU is on your credit report, there's a chance she's added you as a joint account holder. I am hoping you are only an authorized user, because then you would not be responsible for this bill. Not much help there, but someone once told me that when I call a company and get their overseas, outsourced foreign operator who can't speak English, I should try calling back into the system at least a couple more times. There's a chance you'll finally be routed to an American call center. Hope your mother feels better and good luck to you.

Answer 4

It looks like (for once) everyone is on the same page on what to do!  Nice job!

I will only add that you must send the credit bureau a dispute letter, and state that this debt is not yours.  

Can I also assume that this is in the hands of a collection agency?  Or is WAMU still controlling it?  Either way, send them a "demand to validate" letter.  Tell them you are not a joint user or co-signer, and unless they can supply you with a copy of a signed contract they are strongly advised to delete this from your credit records.

I'm also doing some studying on another tactic.....send a copy of the dispute letter to WAMU's "Registered Agent", and include a unfiled small claims lawsuit.  The "registered agent" is the person designated to receive lawsuits for the corporation.  You will get much more attention from this person then some rubber-stamp monkey in their collections department.

Answer 5

I don't know how she put you on her card but you need to get off of it.  If you are getting nowhere on the phone, go to a branch in person and explain that you need help.

If your mom is very sick and wants you to handle her affairs, she should give you power of attorney, not add you to accounts.  

I hope you are able to extricate yourself from this.  If she is going to declare bankruptcy, I assume she has an attorney.  You should go with her and speak to the attorney about the situation right away.

Good luck.

Answer 6

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.I came across this company on NBC News Special Edition.Check it out here:

http://memurl.com/furetu

Answer 7

You can relax, a little at least.  If you haven't signed any contracts, then you are not joint on the account.  It is possible that she made you an authorized user, but just as likely that she simply gave the ok for you to discuss her affairs.  When you say that WAMU is on your report, what do you mean?  Are they the issuer of one of the cards you have or does the "High Credit" column show her $13,000.00? If it is the latter, you need to dispute it immediately.  Follow the link below for several contact #'s. Click on "Contact Us" in the upper right corner, and then choose "additional numbers and ddresses".   Surely one of them can get you to a fellow English speaking American! Good Luck!

Answer 8

I am assuming that you are an authorized user under your mom's credit card.   If you become a co-user on the account, then you have the authority to make decisions on the account.  However, due to your mom's credit, this make not be in your best interest.

I would shop around very carefully for a low interest rate credit card.  I would still make my payments on time to protect your credit.

When you shop for a card, be very wary of sales personnel who try to make you apply for a card with a high interest rate.  The catch they give to you is that you might get a free gift or something of that nature.

Answer 9

I assume you are an authorized user on your mum's card and not a joint account holder. Call them and have yourself removed as an authorized user. 99% of the time, the authorized user isn't liable to pay so I am guessing your credit is still clean. Remove yourself from her card. An authorized user has the ability to use the account for purchases just as you do, but without any of the financial responsibility. Read this article.

http://www.creditcards.com/credit-card-n...

Answer 10

Sounds like you were only added as an authorized user. It does go on your credit report, but should not be reflected in your score. Check to make sure. Often times that would be the reason why the companies won't communicate with you about the debt or try to help you resolve any issues. Hopefully, this is the case. If you were responsible for the debt, in most cases they would try to contact you regarding payment. The next time that you call don't hang up with out having your issue resolved. If that means asking for a supervisor, then ask for one. If that means continuing to repeat the phrase "I don't understand" then do that....over and over and over  until they figure out a way to help you.  I hope you get this resolved. Good Luck.

Answer 11

If she added you as an authorized buyer, you are not responsible.  Being an authorized buyer is reported on your credit report though.  It is not supposed to affect your credit score, but I have seen cases where it does.  Call the companies, ask for a supervisor--explain you want your name removed and did not authorize it.  Dispute on your credit report also.  Her bankruptcy will not affect your credit at all.  The only way any of this can affect you, is if you had joint accounts together.  I don't understand why they would have added you as an authorized buyer though--it should only show in their notes that they have authorization to speak to you regarding her debt.  Keep on top of this and good luck!!!   ***

Answer 12

I agree with everyone.

Another thing to consider is if you call the WAMU number and ask to speak to a superviser...better yet, DEMAND to speak to a supervisor, you will be connected to someone here in the states at their corporate office. That always helps when I need answers.

Also, sometimes the best thing to do is to go to the bank in person and discuss it with the BRANCH MANAGER. Not a teller. This saved me about 100 in overdraft fees when I used an old debit machine at a gas station in the desert.

If you're trying to do this by phone, good luck...I usually don't have any luck when I call the 1-800 number!