Legal Question in Bankruptcy in California

Would like to file chapter 13 I am on a bank account with my son who is 23. He has a saving of about 8,000, would he lose that or could I just remove myself from his account??/

Asked on 1/26/15, 1:33 pm

2 Answers from Attorneys

Scott Jordan Jordan Law Office

Does the money in the account belong to your son? In other words, is he the person that deposited that money and you did not?

Depending on your answers to the questions, I would probably advise your son to close the account and open a new one with his name only.

Be prepared to inform the C13 Trustee about the account and provide proof that all of the money belonged to your son.

Read more
Answered on 1/26/15, 1:56 pm
Michael Avanesian Avanesian Law Firm

Chapter 13 is still an option. The first thing you should know is that many cases are confirmed when a person files for Chapter 13 bankruptcy without an attorney. In the last study I read, there was ZERO Chapter 13 cases where the person filing without an attorney obtained a discharge -- that's the goal of the bankruptcy.

So since it's virtually MANDATORY for you to have an attorney. Get one and speak with them about how to deal with the $8,000.

Read more
Answered on 1/26/15, 3:49 pm

Related Questions & Answers

More Bankruptcy Law questions and answers in California