Under age Credit Card usage, am I responsible for this?
January 23rd, 2010 | by admin |
In jan of 2007, when I was 17 years old, I had lied on my age on a credit application to American Express for a credit card. A few days later It came in the mail with a $2000 Limit. I had regretfully used it.
In Feburary, American Express had sent me another CC and I did not use that one nor applied. Also in Feb applied for Chase credit card and also lied on the app about my age. I Recieved it in the mail with a 2K limit. Desprate for rent, I had applied for 3 more credit cards all supplied from chase and had recieved them all with another 3K limit, 5K limit and 2800 limit. And also regretfully used it all.
In the same month I applied for Target (never used but got), Sears (used 250) Imagine(used 300) Credit one(used 300), home depot (used 500) another Imagine(Used 300). I regretfully used them all.
I am scared… Im not sure what to do. Now there in collections. In july I turned 18, and they call looking for the money.
Am I responsible for the debt? What can I do?
Frank
Tags: 17 Years, American Express, Chase Card, Chase Credit Card, Collections, Credit Application, Credit Card Usage, Credit Cards, Desprate, Few Days, Home Depot, Mail, Money, Sears, Target
6 Responses to “Under age Credit Card usage, am I responsible for this?”
By pais_ano on Jan 24, 2010 | Reply
Ernest
2 choices.
(1) If you don’t pay for it you will never be able to buy a car or a house without HIGH interest rates, you will be hounded day & night by creditors for at least 7 years and your credit is ruined (attached to your SSN)
(2) Try and fight it by informing them that you committed fraud by applying for them while underage and possibly going to jail and/or your parents becoming responsible for your debt that YOU created.
PAY IT BACK! This type of nonsense is the reason why interest rates are going up.
By ♥ Mary ♥ on Jan 25, 2010 | Reply
Micheal
No matter what you are in deep. If you tell them you were under age then you could be in trouble for lying on the application, but if you don’t say anything then you still owe the money. Yes, you are responsible for the debt. You signed up for it and lied on top of it.
By ∞infiniti∞ on Jan 25, 2010 | Reply
Jamie
Yes, you are if you charged anything on the cards after you turned 18.
Also, if you live in Texas, you are an adult in the criminal justice system at age 17. Lying and falsifying an application for credit is a criminal offense.
By Superkitten on Jan 27, 2010 | Reply
Maureen
you lied on purpose that is fraud it was not something that you just did and then could not pay and were being truthful about that might be different they have been known to give toddlers and dogs credit cards in the past, it is easy to mess others credit up, I would wonder if one falsely had your info and submitted it like you did and what would be done to them if they didn’t know it? would they be responsible for it?
By JesusMyDelight on Jan 30, 2010 | Reply
Peggy
Look into consolidating your debt. Often you will see offers to transfer your balance for a low interest rate until it is paid in full. Put all your balances onto one card at a low rate, then make monthly payments until it is paid off. You should consider that card ‘unusable,’ though. Any new purchases will be at a high interest rate and payments you make will go to pay off the low interest balances first.
By howtogooru on Jan 31, 2010 | Reply
Brandon
Well….where do I start? Um, first and foremost, it is obvious to me that somewhere along the line you learned this from someone close to you, or you were never really told how to use credit properly by your parents, teachers, etc. Society in general plays a big role in this type of thing, although you did make the choice on your own, the world we live in today does not promote “responsibility” anymore. The basic message is “image over anything else, no matter what”. That is why everyone has at least one car loan today and $50,000 in credit card debt. I truly feel badly for you!
To make the right choice here will change you, and actually make you feel better about the whole situation. Pay the money back. You can accomplish this through “negotiating the debt”. You will pay MUCH less than you borrowed, but you will have given back a portion sufficient enough to satisfy your creditor’s. Lawyer’s will charge you a minimum of around $1,500 and a debt settlement company may charge around $750. If you are willing to spend a little time on this, rather than money, you CAN do this on your own. It is really not that difficult, it just takes a little time and effort.
I have a FREE e-book you may want to read
This will explain how the system works as well as tell you how to protect your credit once you get it straightened out.
Good luck to you, and if I can answer any more questions for you, just shoot me an email!