I have a joint Target account with my relative, if she...

[Luiggy]

...files bankruptcy can that affect me? My Cousin had a Target Store Account. like 2 years Ago I entered into the account. so now it shows on both of our credits. Last month my cousin closed the account and she owes $800, but its reported to both our our credit histories. A few days ago she filed bankruptcy. Can that Affect me? Help!

[realtime1931@att.net]

My poor soul,When you established the joint account you got the right to charge things, and you also got the obligation to pay whatever was owed ---- regardless of who did the buying.Think before you do this kind of thing again.

[KevinGivens]

If the account is a joint account and is included in the bankruptcy it WILL damage your credit as well. If your cousin just had you added to be able to use her card, then you're fine.1) First find out from the credit card company if it's a joint account. If it is you have to:Either take the responsibility of paying the account off, try to get yourself taken off the account, or take a hit on your credit. Lesson to be learned: NEVER lend money or have joint accounts with friends and family (except your spouse of course). It can, and usually does negatively impact the relationship and your finances. I hope things work out for the best! Kevin

[odds10to1]

The bankruptcy won't affect you except for the fact that she won't be liable for that account anymore will. If your name is on the account you will be the only one left responsible for it. You will have to pay the balance on it.