Can a minor file for bankruptcy?
Posted on Jul 15, 2009 in Bankruptcy, Life After Bankruptcy
Clients have asked whether a minor can file a bankruptcy case. Why might this happen? A minor could be indebted for example because he or she was involved in a car accident and injured somebody. Or the kid may have been a college student who abused credit cards. Or the child may have lost her drivers license for driving without proper insurance.
Bankruptcy can help adults in this situation and also can help children.
Here’s what you have to do. A child can’t start a legal proceeding without the action of the adult guardian. So the bankruptcy petition would have to be filed by the adult parent or guardian on behalf of the child. This also applies to credit counseling requirements as well as financial management issues.
Call us at Lakelaw and we will navigate you through all the details and in so doing, we will help you put Junior on the road to financial freedom