What is the name of your state (only U.S. law)? Arizona
My husband assisted his brother in starting up a company many years ago. His brother became an alcoholic and unbeknownst to us--stopped paying the bills when the economy tanked for this industry. My husband had severed ties with the business in 2004. So we were completely blindsided in March by a process server for a lawsuit by one of the credit cards my husband supposedly co-signed on. We have perfect credit, so we didn't want to go to court--we just paid the debt in full. We didn't even have time to verify or validate the debt because the lawyer claimed that he had sent FIVE notices to our home....complete garbage since I wouldn't have ignored that. I would have been all over the in-laws if I had gotten a notice like that. Anyway, it was 4800 (my dollar sign on my keyboard is broken).
I thought we were done. Of course not.
I recently found out that my husband's name was on yet ANOTHER line of credit for his loser brother's business. It was overdraft protection (I believe for the business checking account) with Wells Fargo. He received a letter that he had to pay over 22,000 immediately or we would be sued. They also threatened action against our home mortgage which is coincidentally with Wells Fargo.
My question is--when my husband signed this agreement years ago, the overdraft limit was 5000. Wells Fargo stated that my brother-in-law extended it twice by phone request..which is why it is all the way up to over 22,000. Why would my husband be responsible for more than the 5000 that he signed for when he did not give his permission nor was ever notified of the credit extensions requested by his brother?
My husband assisted his brother in starting up a company many years ago. His brother became an alcoholic and unbeknownst to us--stopped paying the bills when the economy tanked for this industry. My husband had severed ties with the business in 2004. So we were completely blindsided in March by a process server for a lawsuit by one of the credit cards my husband supposedly co-signed on. We have perfect credit, so we didn't want to go to court--we just paid the debt in full. We didn't even have time to verify or validate the debt because the lawyer claimed that he had sent FIVE notices to our home....complete garbage since I wouldn't have ignored that. I would have been all over the in-laws if I had gotten a notice like that. Anyway, it was 4800 (my dollar sign on my keyboard is broken).
I thought we were done. Of course not.
I recently found out that my husband's name was on yet ANOTHER line of credit for his loser brother's business. It was overdraft protection (I believe for the business checking account) with Wells Fargo. He received a letter that he had to pay over 22,000 immediately or we would be sued. They also threatened action against our home mortgage which is coincidentally with Wells Fargo.
My question is--when my husband signed this agreement years ago, the overdraft limit was 5000. Wells Fargo stated that my brother-in-law extended it twice by phone request..which is why it is all the way up to over 22,000. Why would my husband be responsible for more than the 5000 that he signed for when he did not give his permission nor was ever notified of the credit extensions requested by his brother?