Can a minor file bankruptcy?
Date: Sun, 07/22/2018 - 22:40
Can a minor file bankruptcy?
Tricky situation. The lad is
Tricky situation. The lad is going through a lot. He is only 17. Lost her mom. Has to deal with a huge amount of debt at such a young age. If you have no problem, you can be his 'next best friend' and file bankruptcy on his behalf since he is legally incompetent. You have to attend the creditors meeting and complete all the other formalities.
2 things can happen, you can
2 things can happen, you can file bankruptcy on behalf of that little guy or the court will repay the creditor from his mother's estate. Try to talk to a lawyer to get the best opinion in this case.
Yes it is true, children can
Yes it is true, children can be held responsible for a deceased parent's unpaid debts. But as he is legally a minor, as a rule, those debts should be paid from her mothers' estate. As per the Federal Trade Commission (FTC), family members typically are not responsible to pay off unpaid debts of a dead family member from their own assets. If the debts can't be paid off due to insufficient assets, in most cases those debts will be wiped out.