Ex owes money on my Credit Card

[Lemondrop03]

North Carolina

Let me start by saying that I KNOW how foolish I was.

While my Ex and I were living together, I allowed him to use one of my paid off credit cards. We had a verbal agreement that he would pay it off. At first it was for small things, so I didn't mind. Then he needed it for rent, I said OK. I was not paying rent, as we agreed before I moved in with him, but I did help with the electric bill and food.

Anyway, I moved out of state to go to school, and he continued using the card. I knew he had it, but I didn't know he was still using it. When I realized that it was out of control, it was too late. He now owes $9000 in total. Last month he paid a payment that bounced. This month he made no payment, and i had to. He has told me that he will pay it all back and has a plan to. THIS WAS NOT A GIFT!!!!

Next time I go back to NC I am going to get him to sign an agreement stating he is responsible. I know he can't pay it back all now, so I told him to get his own credit card and transfer the balance or take out a loan from the bank to pay it off.

What can I do to get my money back! I know I made a HUGE mistake.

 

[Shay-Pari'e]

North Carolina

Let me start by saying that I KNOW how foolish I was.

While my Ex and I were living together, I allowed him to use one of my paid off credit cards. We had a verbal agreement that he would pay it off. At first it was for small things, so I didn't mind. Then he needed it for rent, I said OK. I was not paying rent, as we agreed before I moved in with him, but I did help with the electric bill and food.

Anyway, I moved out of state to go to school, and he continued using the card. I knew he had it, but I didn't know he was still using it. When I realized that it was out of control, it was too late. He now owes $9000 in total. Last month he paid a payment that bounced. This month he made no payment, and i had to. He has told me that he will pay it all back and has a plan to. THIS WAS NOT A GIFT!!!!Sure, you just move and leave your credit card with a authorized user.

You are out of luck.

!> Do you think he will agree it was a verbal agreement?

2. You moved and left your card for him to use.

Sorry, this one is a No Brainer.


Next time I go back to NC I am going to get him to sign an agreement stating he is responsible. I know he can't pay it back all now, so I told him to get his own credit card and transfer the balance or take out a loan from the bank to pay it off. Good Luck with that.
What can I do to get my money back! I know I made a HUGE mistake.:

You made a huge mistake and should learn from it.

 

[Lemondrop03]

He will sign an agreement when I ask him to, I don't doubt that. I have known him for 10 years. We are not bitter, nor are we on bad terms, other than this HUGE mess.
ANYWAY...What needs to be on it to make it official and legal? Does it have to be witnessed?

 

[Lemondrop03]

other comments?

Does anyone else have any suggestions?

 

[David Jonathan]

sign it in front of a notary, and have it notarized. That way he can't try to deny his signature if you do have to take him to court.

--Dave.

 

[Paddy Reagan]

While you're seeking a solution to this problem, take a look at your credit reports. Missed payments and those paid with NSF checks can spell disaster. If you have other credit cards be aware that many grantors periodically scan records of the three major reporting agencies. If negative information appears on your accounts the interest rates on unpaid balances may increase to 22 to 30% on ALL accounts, not just the one your friend has abused.

Credit reports are now available free to consumers once each year so you can quickly check for damage. Here's a link to the FTC recommended provder of free reports:

https://www.annualcreditreport.com/cra/index.jsp