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What this illustrates is that before you cosign for another person or add a person as an authorized user on your account, you have to think it through and understand that if he or she defaults, you've essentially entered into a joint account arrangement, so you're responsible," says Greg McBride, senior financial analyst with Bankrate. The court granted Patricia unlimited access to the joint account and ordered her to use the money to maintain herself, the children and the household. ``We keep separate checking accounts and then we pay into a joint account for monthly expenses. |
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