Personal credit card used in business

[mcordry]

I co-own a business and I have used personal credit cards. If I decide to declare bankruptcy will my business partner be responsible for any of these debts. She is not on the cards as user.

[despritfreya]

If the cards are only in your name and you are the only authorized user then you are the only one responsible. Does not matter what you used the credit cards for.

Des.

[mcordry]

what if my partner has one of the cards in her name but she never signed any of the paperwork? she is considered an authorized user

[justbroke]

what if my partner has one of the cards in her name but she never signed any of the paperwork? she is considered an authorized user

It depends on the additional carcholder agreement. If it is an American Express Charge Card, she would be liable for any purchases using that specific card number and you would equally be liable for those expenses.

If this is an ordinary Masertcard, VISA, or "co-branded" AMEX, then she could not be held liable.

[mcordry]

thanks so much "justbroke" it is a bank of america visa. my sister is also on another 2 of my cards , which are a citicard and a chase card. I would hate to know that they are liable for any of the charges, I got my self into this mess and it wouldn't be right to bring them into it .

[keepmine]

Prior to filing, you need to get them removed as an AU to prevent the bk filing from showing up on their credit reports.

[justbroke]

Prior to filing, you need to get them removed as an AU to prevent the bk filing from showing up on their credit reports.

This is a very important thing to note! You may also want to wait until it finally stops reporting as an AU as well.