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Wife's Credit Affected By Bankruptcy - The Bills.com Blog
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Wife's Credit Affected By Bankruptcy
Tuesday, Aug 11, 2009
Question: I am filing Chapter 7 bankruptcy in Florida. My wife is an authorized user only on several of my credit cards and they are reporting to her credit report. Is there anything we can do to get this off of her credit?
Answer: You may wish to contact the creditors as soon as possible and request that your wife's name be removed as an authorized user on the accounts; having her name removed as an authorized user will probably not remove past information from her reports, but it may prevent future derogatory data being reported to the credit bureaus by these creditors. To learn more about credit, credit reporting, and credit scores, I invite you to visit the Bills.com Credit Resources page.As an authorized user, anything that has already been reported regarding these accounts can be listed on your wife's credit report; so going forward, I would encourage you to obtain a copy of your credit report
from each of the three major U.S. credit reporting agencies — Equifax, Experian, and TransUnion — to determine if these accounts are showing up in her credit file.
You can receive a free copy of your credit report at www.annualcreditreport.com and the Federal Trade Commission has a terrific website that contains a wealth of information regarding credit reports (including how to address the inaccuracies they notoriously contain).
Also, be sure to mention your wife's situation with the attorney handling your bankruptcy and ask for his/her professional opinion as to
You can receive a free copy of your credit report at www.annualcreditreport.com and the Federal Trade Commission has a terrific website that contains a wealth of information regarding credit reports (including how to address the inaccuracies they notoriously contain).
Also, be sure to mention your wife's situation with the attorney handling your bankruptcy and ask for his/her professional opinion as to
other actions that might help mitigate the damage to your wife's credit.
I also suggest checking out Bills.com's blog articles on restoring credit after bankruptcy and building credit from scratch to learn more about ways to you and your wife can build/restore your credit.
Good luck as you deal with this very difficult financial situation, and take comfort in the fact that millions of people face bankruptcy every year, and that it is something that you can overcome!
I hope that the information I have provided helps you Find. Learn. Save.
Best,
Bill
www.bills.com/blog
I also suggest checking out Bills.com's blog articles on restoring credit after bankruptcy and building credit from scratch to learn more about ways to you and your wife can build/restore your credit.
Good luck as you deal with this very difficult financial situation, and take comfort in the fact that millions of people face bankruptcy every year, and that it is something that you can overcome!
I hope that the information I have provided helps you Find. Learn. Save.
Best,
Bill
www.bills.com/blog
Also, make sure to get a free financial health check-up with Bills IQ!
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