Separate names with a comma.
Discussion in 'Credit Talk' started by baushouse1, Jul 2, 2010.
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I'm really sorry to hear this has happened.
Unfortunately, if your mother applied for the card and agreed to let her use it, then I believe your mother would still be liable for making the payments, whether she had a side agreement with her granddaughter to pay the bills or not. I really don't see any way around this unless you were to take some sort of legal action against her. I'm not a lawyer, so if you're serious enough about this, you may want to talk to a good lawyer about her rights and verbal contracts, etc.
Credit card companies essentially rely on credit scores when providing credit, not assets. So, your mother probably had good credit (and a loooong credit history), and that's why she was approved for a card.
Abuse of the elderly may be a viable claim.
Why hasn't the grandmother closed the account?
The first thing to do when you realize you are (or someone else is) digging yourself into a hole is to stop digging.
If the card is in the grandmother's name, she should be able to call Discover up and close the account to all future charges. She'll still need to make payments and the interest rate will be sky high, but at least the balance should start to decline (as long as she makes more than the minimum payment).