Please Help...Trying to refinance and dealing with mom-in-law's debt - Page 2 - Talk About Marriage
Financial Problems in Marriage When financial times are tough, it adds to the stress we deal with on a daily basis. This section is for talking about how financial problems affect our relationships and ways to cope.

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post #16 of 20 (permalink) Old 05-05-2016, 11:53 AM
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Re: Please Help...Trying to refinance and dealing with mom-in-law's debt

if you've locked in the rate, it won't change at all. It'll hold for X days that you agree upon. If you haven't locked in, it could literally change at any point in a day.

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post #17 of 20 (permalink) Old 05-05-2016, 11:54 AM
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Re: Please Help...Trying to refinance and dealing with mom-in-law's debt

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Originally Posted by chillymorn View Post
get his name off asap.

if something happens to mom it will be his debt. Maybe mom should do a balance transfer to a low interest card and then just close this one.
Not likely, an authorized user is not the same as a co-signer. His mom would be responsible for his debt that he runs up on that card, not the other way around.
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post #18 of 20 (permalink) Old 05-05-2016, 12:03 PM
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Re: Please Help...Trying to refinance and dealing with mom-in-law's debt

not an expert but i don't think being an "authorized user" has any effect on a credit score. he would have to be a co-signor in order to have an effect.

and if that's the case, no credit card will drop him off the card if there is 12K of debt on it. they want him on the hook for that debt.

that said, is there actually 12K of debt or is it just a card that has 12K line of credit on it?
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post #19 of 20 (permalink) Old 05-05-2016, 12:31 PM Thread Starter
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Re: Please Help...Trying to refinance and dealing with mom-in-law's debt

No, there is 12K of debt. Like I said, that's another story. I have confirmed that bill is coming in her name, to her house. Credit bureau says that makes it her debt.

I gave up getting involved with his mom's finances a long time ago. That is between her and him. I can't be the financial police anymore...I just keep an eye on our stuff.
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post #20 of 20 (permalink) Old 05-05-2016, 12:33 PM Thread Starter
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Re: Please Help...Trying to refinance and dealing with mom-in-law's debt

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Originally Posted by dubsey View Post
if you've locked in the rate, it won't change at all. It'll hold for X days that you agree upon. If you haven't locked in, it could literally change at any point in a day.
Thanks Dubsey. It's locked in.
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