Dear Opening Credits,
I added my then minor daughter as an authorized user on one of my credit cards that has since gone into default. My daughter is now ready to complete the FAFSA application, and I am concerned that it will affect her in a negative way. I have contacted the credit card company, and she has been removed as an authorized user. Is there anything else I need to do? Please help!
- Angela
Dear Angela,
No need to worry -- you've already taken corrective action by removing your daughter's name from your account.
It's true that authorized users have the same information woven into their consumer credit reports as the primary account owner. This kind of arrangement can work quite well, as long as the owner (who is entirely responsible for the bill) pays on time and keeps the debt nice and low. The authorized user will then reap the positive credit rating rewards.
  • The Law Office of Susan J. Salehi has helped 1000’s of people like yourself with Chapter 7 and 13 bankruptcies since 1992, both in the Santa Barbara/Ventura and Kern County areas. We offer a free consultation, reasonable rates and payment plans. All of your options will be explained during your free consultation with the attorney at the Law Offices of Susan J. Salehi. Start at only $999 Attorney Fees. Restrictions Apply. Stop Foreclosures with a Chapter 13. Operators 24/7. (805) 654-1467, (818) 880-8305, (661) 631-0252, (805) 202-4688.

    • www.bkhelpnow.com