If my name is on my father’s checking account, when I file bankruptcy will my creditors go after his account because my name is on it?
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If my name is on my father’s checking account, when I file bankruptcy will my creditors go after his account because my name is on it?
My Social Security Sspousal benefits end in Juin 3 months and I have no other income other than what my father pays me to take care of hmi – $800 a month.
Asked on April 30, 2012 under Bankruptcy Law, Idaho
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If your name is on your father's checking account where you are designated as an owner of the account as opposed to having some power of attorney over it, that account needs to be designated in your bankruptcy schedule as an asset belonging to you.
As to whether or not your creditors can seek monies from this account concerning your bankruptcy depends upon what type of chapter you file and what the court determines as part of the bankruptcy process. I suggest that you consult with a bankruptcy attorney further about this particular checking account that for all intents and purposes is your father's and not yours and how it needs to be designated in your bankruptcy filing schedule as an asset.
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