Can a creditor take money from a joint account if one of the account holders is a minor?

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Can a creditor take money from a joint account if one of the account holders is a minor?

Can a creditor take money from my child account they said because my name was on it. That money was my daughter’s; she worked hard for that money that they took. I had to sign for her to get her saving due to her just being 16.

Asked on June 29, 2011 under Bankruptcy Law, Tennessee

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Unfortunately if your name was listed on the account then yes, they probably can take the money.  But it really depends on some things.  How your name was listed and what type of account that it is. You should look in to some local laws on the subject.  In some states if you can prove that the money was not really yours and you did not use the account in any way then it could have been listed as exempt property.  You need to discuss this issue with a debt counselor in your area to see what can be done at this point in time.  It is very difficult to get money back once it is taken  Good luck.


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