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Question
A few years ago, I had a credit card in my name only with a nationwide home improvement store. My brother was helping me with some home repairs. To facilitate his being able to pickup building supplies, I authorized him to sign on my account. He made one purchase using my credit card and signed his name on the receipt. I later defaulted on the account. The default appeared on my credit report AND also on my brother's credit report. He had excellent credit until this occurred. My brother corresponded with the credit reporting agencies and the retailer and requested that the default be removed from his credit report since I was responsible for the account. What can be done to remove this stain from my brother's credit report? Needless to say, this has caused some family tension. Thank you.
Since he was just an authorized signer he is not responsible for the debt. He may file a complaint with the Federal Trade Commission. Once a complaint is filed the Credit bureaus will change their tune and are likely to do what they are required to do. If not you may file a small claims suit against them and get the judge to decide whether they must remove it.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Many, many thanks to Michael Brotherton for his professional expertise. I shared his response with my brother, and he will immediately pursue the remedies suggested. Again, this service and Mr. Broughton are sincerely appreciated. | ||
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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