Legal Question in Credit and Debt Law in Wisconsin
I have been making payments on my sons credit card for several years.
I'm trying to pay it off, but even with the amount that I pay (almost twicw normal payment) - it will take 2 years.
Question:
Can I tranfer my social security number to this card and have the account tranferred to me - so that he can have his own account - on his own?
1 Answer from Attorneys
While many things are possible if the credit card company agrees, it would be very rare for them to agree to a request like this unless you have extremely good credit. They would rather than two persons "on the hook" (or two people who at least seem interested in paying). You would therefore have a very hard time convincing them that relieving your son from liability on the card would be in their best interest. However, for not too much more than about $1500, your son might be able to discharge this card in bankruptcy, freeing both of you from liability (unless you are also named on the card. You therefore owe it to yourself and your son to at least set up a consultation with an experienced bankruptcy attorney. My comments in this public web forum are intended only for public educational purposes and not as legal advice for you. You therefore should retain your own attorney as soon as possible, since time limits can apply to many different types of legal matters which could severely harm your case if they expire without receiving proper attention in a timely fashion. My comments in this public web forum are intended only for public educational purposes and not as legal advice for you. You therefore should retain your own attorney as soon as possible. However, you are welcome to contact me at my office in Racine if you wish to discuss this matter further.