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Credit Card mine - Debt not!
Hughesy84
Posts: 512 Forumite
in Credit cards
Quick question.
I have a Barclaycard, however Iv allowed someone else to use it - to clear bad debt and get them out of the deep brown stuff.
Anyway - Is it possible to transfer it into thier name? They probably wouldnt get the card on their own credit history, however they would happily agree its there's, and therefore get it taken off my record.
Is it possible or not?! :cool:
I have a Barclaycard, however Iv allowed someone else to use it - to clear bad debt and get them out of the deep brown stuff.
Anyway - Is it possible to transfer it into thier name? They probably wouldnt get the card on their own credit history, however they would happily agree its there's, and therefore get it taken off my record.
Is it possible or not?! :cool:
0
Comments
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Sorry, but the debt is yours.0
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Not unless you can transfer the debt to a card in their name - no.
That's why you shouldn't lend anyone your card unless you're certain of it ...
As far as the bank are concerned - you are legally liable for the debt. They can chase you for it. They have no connection or interest in your mate, especially if he's in the brown stuff already!0 -
No thats fine - No problems paying it - Me lending the card helped out and no longer in any difficulty - Just wanted to see If we could swap it over so that its not on my name...
Not a problem - Thanks0 -
Credit cards cannot be held jointly. As the principle card holder, you are responsible for managing the account and you're solely liable for the debt.
If the other person has a credit card, they can request a balance transfer from your Barclaycard. All that's needed is your 16 digit card number and expiry date
People who don't know their rights, don't actually have those rights.0 -
Yeah they havent got a card that would hold it.....never mind, its not a problem.0
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