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Does all the money in that account belong to your father?
yes, I just sign checks for him and do his shopping
Then that account is a "convenience" account, and your creditors cannot take any of the money in that account if your file a Bankruptcy.
I have my own checking account and I will lose my SS disability after july
However, you may have to prove that all the money in that account was put there by your father.
I don't remember if the back put me as first on the account and him second but it is all his money
Well, it doesn't matter whose name is first. What matters is whose money is in the account.
not disability..survivor benefits...my son will still get his portion till he is eighteen. So I just have to prove that the money in Dads account is his and everything should be fine
That is correct.
he was worried that if I filed I would have to take my name off the account.
since my son will get his survivor benefits, should have that money put on a pre-paid debit card until after the bankruptcy so the creditors wont take his money?
Your creditors cannot take your son's survivor benefits money to pay your creditors.
It is not necessary to purchase pre-paid debit cards.
ok, so I dont have to do the prepay card..will I have to prove his money for his own as well?
Is your name on his account also?
it has both names since he is still a minor...it says for James but has my name also
Does the account say your name "in trust for" your son?
I believe so
If the account has your name "in trust for" your son, then you don't have to prove anything.
I was thinking of closing the checking account and there is a bank/credit union here that allows 16 years to have a student account..I was going to have him open one of those
If the account just says your name and your son's name, then you should be ready to prove all the money in that account belongs to your son.
That sounds like a good idea.
great minds think alike lol. I hate to file..but can't think of anything else to do...I stay with my father to take care of him and He pays me alittle to do that but nothing like a job would do. and $12,000 in credit cards I have to do something
You should not feel bad about filing. It is not your fault you cannot pay your bills.
I think this is what you wanted to know. If not, please let me know.Thank you.
no but I was doing so well..had plans for getting a job, but was more or less elected to take care of father, I am the youngest and since my husband passed it was assumed I would be the best. I didn't mind, but the closer it gets to July the more tense I get about the money situation..and I am not letting him pay my bills!.
You can still get a job later. But this way, you won't have to worry about paying those bills - which will keep increasing because of the added interest.
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