Expert: Mark J. Markus- California Bankruptcy Attorney - 2/17/2009

Question
QUESTION: I am considering filing for bankruptcy.  I am the authorized user on a credit card and have been paying that card..... it is listed on MY credit report even.  My question is, if I file for Bankruptcy, will it have a negative impact on the primary card holder ?  The card is in their name, not mine, but I"m allowed to use it.  I do not want that card involved.  How does that work ?  Thanks so much.

ANSWER: It has nothing to do with bankruptcy.  The primary cardholder is liable for the debts on the card.  Period.  If the payments are not timely made, it will "involve" them.

---------- FOLLOW-UP ----------

QUESTION: That card that I just mentioned will continue to be paid and kept current.....I do not want to default ( nor does the primary card holder ) on that card.   I guess I'm asking if that card will be sucked into the bankruptcy if it's NOT in my name, but I am an authorized user.  I ask this since this card information / payment history IS indeed listed on my credit report for whatever reason.  I'm sure that I'm only an authorized user, NOT a joint card holder.  Thanks for any info you can offer !

Answer
If you're just the authorized user, it shouldn't be showing up on your credit report.  You don't technically owe the credit card company; you owe your friend (or whoever it is).  That having been said, it should affect the other party if you file a bankruptcy case, as long as the payments are made on time on the card.