Ask Experts Questions for FREE Help !
Ask
    axelops's Avatar
    axelops Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 17, 2011, 07:39 PM
    Various Questions
    GA location. Few questions maybe someone can answer...

    If parent filing for bankruptcy, can one's child assets be seized? (minor)
    Should all usage of credit cards be stopped if contemplating filing?
    How long of a time frame should there be between any large purchases (over $500) and filing bankruptcy? (Ch 7)

    General answers/advice is fine. I realize each individual situation differs.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    Jan 17, 2011, 08:09 PM

    The court does not seize assets, when you file you report all property and amounts in bank accounts. There are certain limits that are exempt. If they have more money in the banks than allowed they will be required to turn that amount over, They give the money, it is not "taken" So they could decide what accounts to take money out of.

    Unless the child has a separate income from the adult, or unless the adults names are not on the account, it is still in the name and under the control of the parent.


    Yes if you are going to file, stop using the credit cards.

    What are the puchases ?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Are You Pregnant Or Think You Are? Have Questions? Post New Questions Here.. [ 21 Answers ]

Hi and welcome to the forum. If you think you might be pregnant, or are pregnant, post your questions here, as the other thread is getting so large that it's hard to keep them organized. Also, if you are a teen and have questions and/or fears, let us know and we'll help as best as we can, or find...

Me and my boyfriend play 20 questions and I need questions [ 3 Answers ]

We play 20 questions a lot and I ran out of questions help

I have 2 questions> [ 1 Answers ]

I have 2 questions> Are compresion plugs to cap off a cleanout " Code'? The ones that you have a wingnut that you can tighten and the rubber expands into the wall of the pipe. How do I remove a 3" rusted cast iron plug. Is there a technique heating. I am afraid to use the hammer it may...

Two Questions here. [ 6 Answers ]

Hi, My name is Kelly, and for those who have already read my earlier post-- thank you for your help. However I have a couple of additional questions... 1. I've noticed an increase in acne... is that also a pregnancy symptom?:confused: 2. My dad is a great dad but... if I am pregnant,...

View more questions Search