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My Dad is going to screw me

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ltrocka1

Guest
New York

Ok, my dad doesn't have great credit, but he insisted that I open up a credit card for his business. I need to write a contract stating that is he responsible for all the transactions on the card. I wrote this off the top of my head

I ____________ on this day September 28, 2004 opened up an American Express Business Credit Card under the Company of R.S.P. Supplies (Account # XXXX-XXXX-XXXX-XXXX) for ____________. ____________ and only he will be responsible for all of the transactions made on this card. He will be responsible to make the full payment when the payment is due. If a payment should fail to be paid on time, I will have no other choice but to close the account.

thats all I got, should I add more and if so WHAT?

The reason I need this is because if he tries to screw me I will take him to court and have the court make him pay me back.

Thanks
Lee
 


racer72

Senior Member
ltrocka1 said:
The reason I need this is because if he tries to screw me I will take him to court and have the court make him pay me back.

Thanks
Lee
The court will not make him pay you back, you will only be given the authority to attempt to collect on a judgment. The only true way of protecting yourself is to say no. Another option would be to require some type of surety. This could be in the form of a cash bond or taking possession of some type of property. I am currently in possession of my son's cherished baseball card collection as bond for a loan I gave him. If he doesn't make his payment on time, I can sell his collection. He is currently a month ahead of schedule and will probably pay it off well ahead of schedule.
 

Laugh_Hard

Junior Member
Tell him....

Tell him to fix his credit and get the cash he needs himself. Why? because it is more repsonsible and shows better business sense.

If he already has a problem with credit, why take on his problem?
 

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