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Asked in Parkville, MD Apr. 05, 2018 ,  1 answers Visitors: 9
My dad is filing for bankruptcy and has his name on my bank account. What does this mean for the money that is mine?

1 Answers

Anonymous
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Posted on / Apr. 27, 2018 03:02:25

Your father will have to list this account as an asset in his case. The question is how can he protect this asset with exemptions he has to protect assets. If he is filing a Chapter 7 bankruptcy the Trustee can take the nonexempt assets to distribute among the creditors. If he transfers an the account to you before filing he has to report this transfer and he losses his ability to use his exemptions to protect at least some of the account.

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