I’m an authorized user on my wife’s cards and they have high balances. If I take myself off as an authorized user, which I have, will these accounts fall off my credit scores? I’m considering putting her accounts in a debt settlement and not mine. Therefore taking the hit on one credit score in the family, not both.
You should be able to be removed as an authorized user without any problem. Since you are just an authorized user and not liable for the debt they won’t give you much hassle to do that.
However, to be sure you are completely off you’ll need to ask to be removed this month and then wait 30-45 days and pull a copy of your consolidated credit report to make sure you are no longer being reported on the cards.
Before you jump for debt settlement, just keep in mind that while debt settlement sounds wonderful, you are most likely to get screwed and ripped off. What is the situation? Maybe I can help you find a better solution for it.