How to Remove Name From Co-Signed Credit Card
Author: Dave
Posted: Sat Feb 14, 2004 11:46 am
Post subject: How to Remove Name From Co-Signed Credit Card
Hello All,
I'm looking for some advice.... I recently tried to close an account with Chase that my step-father co-signed on for me almost ten years ago. My step-father has since gone his own way and I haven't seen nor spoken to him in years. To top it off, he is a huge risk (gambling problems)...so I'd really like to completely disassociate myself with him in every possible way.
The account in question has a balance on it as of late which has been more of a precaution by me than anything else (I've used this card rather than my personal cards to avoid giving my step-father a place to rack up charges that I could be held accountable for) but I would gladly pay it in full in a heartbeat if Chase would let me close the account or at least remove my name from it once it had a zero balance. But they won't!! They told me that my step-father would be the one who would have to close the account, in writing. Only problem is, I don't have a clue where he might be -- if he'd even help. They also won't just remove my name (even with a zero balance) because it's considered a 'joint account' -- I'm just as responsible as he they claim (though I'm apparently not afforded the same rights).
So how do I "get out"? Most recently, I received a 'Change In Terms Notice' that I don't have to agree to -- which would trigger the account closing process...but I'm not sure if there might be any negative side-effects of that action on my credit (i.e.: "Account closed by creditor" sort of thign). Thoughts? Should I just suck it up and pay a lawyer to draft a letter to them advising them of my desire to close the account instead?
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Author: NightStar
Posted: Sat Feb 14, 2004 9:36 pm
Post subject: How to Remove Name From Co-Signed Credit Card
If you disagree with the terms of agreement, then it is my thinking that the account would officially say closed by consumer. I would suggest calling customer service and checking on this first.
That is pretty low that they will not otherwise remove you from the account after reaching zero balance.
I would also suggest writing a dispute to the regulating company over this bank about the problem you are having with them if it comes to it.
Author: Guest
Posted: Sun Feb 15, 2004 9:37 am
Post subject: How to Remove Name From Co-Signed Credit Card
Hey if you are that concerned just start getting sneaky. Write them a letter and state you are your father and you would like to close the account. You don't even have to pay in full, just suspend the charging privlidges. Hey if you are worried that much about this I don't see any harm as it may cost you a mint if he racks it up.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sat Feb 14, 2004 11:46 am
Post subject: How to Remove Name From Co-Signed Credit Card
Hello All,
I'm looking for some advice.... I recently tried to close an account with Chase that my step-father co-signed on for me almost ten years ago. My step-father has since gone his own way and I haven't seen nor spoken to him in years. To top it off, he is a huge risk (gambling problems)...so I'd really like to completely disassociate myself with him in every possible way.
The account in question has a balance on it as of late which has been more of a precaution by me than anything else (I've used this card rather than my personal cards to avoid giving my step-father a place to rack up charges that I could be held accountable for) but I would gladly pay it in full in a heartbeat if Chase would let me close the account or at least remove my name from it once it had a zero balance. But they won't!! They told me that my step-father would be the one who would have to close the account, in writing. Only problem is, I don't have a clue where he might be -- if he'd even help. They also won't just remove my name (even with a zero balance) because it's considered a 'joint account' -- I'm just as responsible as he they claim (though I'm apparently not afforded the same rights).
So how do I "get out"? Most recently, I received a 'Change In Terms Notice' that I don't have to agree to -- which would trigger the account closing process...but I'm not sure if there might be any negative side-effects of that action on my credit (i.e.: "Account closed by creditor" sort of thign). Thoughts? Should I just suck it up and pay a lawyer to draft a letter to them advising them of my desire to close the account instead?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Sat Feb 14, 2004 9:36 pm
Post subject: How to Remove Name From Co-Signed Credit Card
If you disagree with the terms of agreement, then it is my thinking that the account would officially say closed by consumer. I would suggest calling customer service and checking on this first.
That is pretty low that they will not otherwise remove you from the account after reaching zero balance.
I would also suggest writing a dispute to the regulating company over this bank about the problem you are having with them if it comes to it.
Author: Guest
Posted: Sun Feb 15, 2004 9:37 am
Post subject: How to Remove Name From Co-Signed Credit Card
Hey if you are that concerned just start getting sneaky. Write them a letter and state you are your father and you would like to close the account. You don't even have to pay in full, just suspend the charging privlidges. Hey if you are worried that much about this I don't see any harm as it may cost you a mint if he racks it up.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 11:51 AM
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