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a minor would need good credit (income + a history of paying bills on time)
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∙ 15y ago
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How can a minor get a car loan?
A minor can not get a car loan ithout a parent signing the papers.
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
What are the benefits of getting secured bank loans?
When looking to get a loan there are many dangerous options from which to choose. A secured bank loan allows you to take a loan out on money that you already have in your bank account. You will accrue some interest and some minor fees but in the end you are able to pay off the loan without having to rely on later income. One of the greatest benefits for the young borrower is for the accrued credit upon payment.
Is bank loan an asset?
A bank loan is an asset for the bank as bank receives interest and principle payments from borrower.
What will be journal entry if a bank gives loan?
bank a/c dr to bank loan a/c
Is it legal for a parent to take access to their child's bank account?
If the child is an un-emancipated minor, yes.
When can a minor be emancipated?
A minor can be emancipated typically when they are financially self-sufficient, living away from their parents or legal guardians, and can demonstrate the ability to make responsible decisions. Emancipation laws vary by state and country, so it's important to consult local legal resources for specific criteria and processes.
Can an emancipated minor go to jail?
Yes, an emancipated minor can still face legal consequences and go to jail if they break the law. Emancipation only grants the minor certain adult rights but does not exempt them from legal responsibility.
Can an emancipated minor own a house?
Yes, an emancipated minor may be able to own a house because they have the legal status of an adult. However, they may face challenges such as obtaining a mortgage or entering into contracts due to their age. It is essential for them to seek legal advice and support to navigate the complexities of homeownership as a minor.
What would be the benefit of emancipating your 19 year old son who is in college and you can not pay for it Could he file his fafsa as emancipated low income?
If you son is 19 then he cannot be emancipated because he is not a minor. There would be no benefit. Take out a loan if it is necessary.
Can you get welfare if you are a emancipated minor?
Yes
Can an emancipated minor have a relationship with an adult?
No, emancipated or not. It's wrong and a crime for the adult.
What happens when a minor falsely obtains a credit card?
It depends... no bank will knowingly extend a minor credit (with the possible exception of paying a small bad check), but if for some reason they did and the minor kept their head down and paid his/her bills on time, very little would happen. If the minor chooses to disaffirm (make void) the contract obligating him/her to repay the debt (and the bank had information that the minor wasn't of age- knowingly or not) the bank would be at a loss. But if the minor used false or misleading documents/information then (in most states) the minor would be bound by the contract (forced to repay the loan like the rest of us) and/or be guilty of fraud. If that minor is able to weasel out of repaying the loan, then the bank has the threat of conviction to... convince the minor to repay the loan.
What is the age to be emancipated in penn?
In Pennsylvania, individuals can file for emancipation at age 16. However, the court will consider various factors to determine if emancipation is in the minor's best interest, such as their ability to financially support themselves and make independent decisions.
How do you spell emancipated minor?
That is the correct spelling of the term "emancipated minor" (someone under legal age that is court-afforded the status of an adult).
Are you emancipated when you are a minor in Oklahoma after you have your baby?
Yes
What is the imancipation process of a minor child?
how do i get emancipated?
