5/01/2006

Advice from Nashville's leading Financial Aid Advisor Dave Ramsey

 
Dave Says
By Dave Ramsey
Author of:
Financial Peace and
The Total Money Makeover

"Joint account with girlfriend?"

Dear Dave,

A few months ago my girlfriend and I opened a credit card account in both of our names. Now, we’re no longer dating. How can I get my name off this account?

Jeremy in Oklahoma City, OK

Dear Jeremy,

First, never open any kind joint account with someone when you’re not married. Second, never use credit cards again! Sounds like the credit shark took a chunk out of you and is still nibbling away.

You need to call the credit card company right now, and tell them to take your name off the account immediately. Then, find out if there’s a balance on the card. If there is, and it was charged up while your name was on the thing, you’ll still be liable for that amount. They won’t release you from responsibility for those purchases, but you can get off the hook for any future charges.

After this, send them a certified letter - return receipt requested - stating that you are no longer liable for any additional charges on the card. You may even want to call them in a few days to ensure they got the letter.

Get this done now, boss. Otherwise, you’re going to be in a lot of trouble, along with your ex-girlfriend, and that’s not my definition of fun!

- Dave



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