Can a credit union be held liable for not properly reporting a credit card account?

I co-signed a credit union credit card account 10 years ago and the bank reported the account as individual for the other person; it did not report at all on mine. Can the credit union be held liable for not properly reporting the account? If I had known the account was still in my name several years ago, I would have removed myself. I was never notified that the account was even approved nor have I ever received any paperwork. The other person was delinquent and only found out that I was on the account when the bank said I was. They never attempted to contact me to let me know.

Asked on December 2, 2011 under Bankruptcy Law, Virginia


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Whether or not the credit union you are writing about can be held liable for not reporting a credit card account that you have with respect to a legal theory that you may have and responsible for any damages as a result depends upon whether or not you can establish liability and damages under some legal theory.

In order to prove your claim, you need to consult with an attorney experienced in banking law. In the interim, I would try and get the credit union to remove your name from that account you are writing about.

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