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Personal Finances / Credit Cards and Consumer Debt


Subject:  OPD (Other People's Debt) Date:  11/3/1999  2:02 PM
Author:  Ratkey Number:  19026 of 312236

Several years ago my wife let her mother "use" her credit card because my mother-in-law did not have credit of her own. I did not know it at the time but apparently my wife let mom use the card as often and as much as she wanted, so long as mom paid the minimum payment every month. The card now has a balance of over $5000 and recently mom has been unable to make even the minimum payment. As soon as I learned this, I immediately closed the account. My wife is a stay at home mom and so it has come down to the fact that I must make the payments on this card to prevent any further damage to my wife's credit history. This infuriates me to no end. The debt fully belongs to mom however mom's name appears nowhere on the account. Is there anything we can do to get the debt transfered to the rightful owner or am I stuck with this bill until it's paid.
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