kids accounts?

[freshstart10]

if we have a minor acct at a credit union and file chap 7 can they come after minor accts?

by the way one of the cards were including in bk is with credit union.

just curious if we should close it. its only couple hundred bucks in each

[momof3b1g]

Yes, we were told they could come after them. Not sure they take them. But i think they are not exempt, in other words they say YOU have that amount of $. Because they are minors.

[magyar123]

Yes, they can and will. It's not the minor's account, it's your account. It's your signature, your SS # on the account. Yes, close it immediately, and go to a different bank with those funds

[Confused14]

If it's not an UTTMA account, then yes they can and will come after it. I have 2 UTTMA accounts in my children's names, where I'm the custodian. My attorney said I did not need to include it in my petition since they are UTTMA accounts.

[Flamingo]

if we have a minor acct at a credit union and file chap 7 can they come after minor accts?

by the way one of the cards were including in bk is with credit union.

just curious if we should close it. its only couple hundred bucks in each

If it is a regular savings account where you are the custodian of the funds (i.e., account would read similar to "(your name) for the benefit of (child's name)," that is just a custodial account to which you have access and can easily remove the funds at any time so the funds are an asset to you. Depending on how close you are to filing or planning to file, it's best to move those funds out of that credit union. Mention those funds to your attorney if/when you move them or keep them cause they are tied into your SS number and bank information.