Credit Card

What is the name of your state? CO
I allowed my daughter to get a Visa cared from Capital one, she was 13 at the time. They actually sent it. It had a $200 limit. she used it here and there and made monthly payments. Long s story short, her dad and I have been through a really rough past two years. Barely hung on to our home. I recieved a collections letter asking for 868$, on a less than $200 balance? What can I do?

[Ladynred]

A credit card for a 13 year old ??? Wow... you must be one trusting parent !!

Was your name on the account as a co-signer or joint account holder ?? If so, and the account is in default, then you are on the hook for the debt, sorry.

How old is the debt, when was Crap1 last paid ?

No, I'm not a cosigner, not at all listed. Strictly her. The card was last paid on about a year ago. It was a joke, just wanted to see if they would send one. When it came is was unused for awhile. I will gladly give them $200 to close the account, but she should not have to pay $800.

[I AM ALWAYS LIABLE]

My response:

My question, which is very important to answer so we can help you, is - -

Did you, personally, ever sign your name or your daughter's name to any of the credit/purchase slips?

IAAL

no, I paid a utility bill online, and my daughter took a cash advance from an ATM machine. I am pretty sure I never did.

[Ladynred]

Ok, if you never co-signed or anything, what was stated for her age on the application ??? Minors can't enter into contracts, if you didn't lie about her age, then Crap1 was pretty stupid to issue a card to a 13 yr old. The whole thing could be voided because she was a minor.. especially if there are no provable signatures lying around.

How old is your daughter now ?

she's 15, but she put her date of birth as 78 instead of 88. Everything else was real. Real SSN, etc. I'm not interested in bailing, we'll pay the $200, but $800 is a bit ridiculous. Plus, I don't want either of us to go to jail..;o(

well then you are in some trouble for allowing her to lie on a credit application. they have all that text above the signature line for a reason. have fun in court.

[Ladynred]

No need to be so fatalistic.

It WAS fraud, but that doesn't mean anyone will end up in court.

How long has it been since a payment was made to Crap1 ??

CO has a very short Statute of Limitations - 3 years for open-ended accounts. If you're even close to the SOL expiring, then you might be able to stall the collector(s) with validation until it does expire, then you can get rid of them easily.

Validation will also make them produce a full accounting of the balance they're trying to collect. It would also put you in a position to negotiate a settlement of far less than the $800 being claimed.

You can read about validation and settlement strategy at [url]www.creditinfocenter.com[/url]

[HomeGuru]

Originally posted by ashautcait
she's 15, but she put her date of birth as 78 instead of 88. Everything else was real. Real SSN, etc. I'm not interested in bailing, we'll pay the $200, but $800 is a bit ridiculous. Plus, I don't want either of us to go to jail..;o(

**A: Geez, why didn't you provide this important info from the start?

I say go ahead pay up the account is in your daughters name she signed stating she was of age. You can't call and talk to the creditor because you are not on the account if you tell them the truth then you have committed fraud. If you call and pretend you are the daughter then thats fraud again. Thats a shame that you have allowed your daughters credit to marked sure the neg. reporting will be removed in seven years by the time she is 22. But what about if she decides to go to college and does not receive enough financial aid and needs to use third party sources to get a loan most of these are with banks and they check your credit. I know I am using one now to help pay for my college education because my financial aid package from the government did not cover all expenses. Or what if she decides when she graduates that she wants to move on her own or get a car on her own. Please don't do a settlement on this account it will be on there for 10 years, all of this for a few trendy clothes that she does not wear anymore, and a cash advance. Cash advances should only be used as the last straw. That is why your balance has increased from 200.00 to 800.00 just from the interest on the cash advance. People never read the fine print.