Hello, I'm about to stop paying on 2 of my cred

Hello,

I'm about to stop paying on 2 of my credit card balances. I do expect to settle prior to chargeoff.

My questions is in regard to joint bank accounts. I currently sign on my parents checking and savings account. It is my understanding that the only risk to their accounts being frozen is if my credit cards get charged off and a judgement is passed. Is that correct?

Any guidance here is greatly appreciated.

2 Answers

You are corret. They can freeze your account after obtaining judgment from the court. Try to settle the debt before a lawsuit is filed in the acourt. 


They might start deducting money directly from the account as soon as the monthly payment date is past the grace period.


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