A business associate opened a credit card in my husband’s name and defaulted…what are the options?!?!?
I am JUST LIVID ABOUT THIS SITUATION:
My husband’s partner-in-practice (my husband is not the business owner, so he is not a legal “Partner” to this person) opened up an American Express account for his private office. He said to my husband about a year ago “I’m going to add you as my employee on the credit card account” (presumeably to get another card, and more credit) and my husband said NO. The business partner opened the account anyway and my husband made him promise to take him off of the account which he said he did.
Anyway, my husband gets a call at the office today from a lawyer stating that he had defaulted A YEAR AGO on the credit card and they were suing anyone associated with the card for the balance. He was livid. The person was supposed to have taken him off of this account that he opened WITHOUT HIS PERMISSION in the first place… This man is completely stupid and now my husband’s credit score is less 70 points! What are his options to repair the credit? HELP!!!
Also, my husband demanded his partner pay off the balance today which he did. This man has terrible money management skills and cannot even get credit to buy furniture. He is even being sued by his medical student loan provider for not paying those for over five months! He paid off the AMEX card today but now I am concerned for our credit score….