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Is there a law in AZ that stipulates the child is not responsible for there parents debt?
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Is child responsible for debts of parents bankruptcy?
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
Can an adult child inherit a parents debt if there are no assets?
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
Is child responsible for parents credit card debt after death?
I think that would be paid out of the estate and not by the child.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
Are children responsible for parent debt after their death in VA?
The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.
Is child liable for a deceased parent's debt?
As long as the child is not a cosigner on the debt, the child is not responsible for parent's debt. The parent's estate would be responsible for the debt. Technically this could reduce the inheritance the child receives, but it is not the responsibility of the child.
Can a parent be held responsible for a minor child's debt?
Yes a parent can be held responsible for a minor child's debt if the parent co-signs on a loan with the child. For credit cards, if the child is an authorized user on a parent's account the parent is also responsible for this debt.
Are parents legally responsible for child's credit card debt?
If the parents are the primary card holders and let the child use the card, yes. If the child is a minor, yes. If the parents are a co-signer for the account, yes. If the child is over 18 and the credit card is their own, no.
Why do children go to child labor?
Children usually work as a child laborer because their parents have a debt to someone and the child is responsible for paying it off, and they are sent to work at a factory.
Can a child make a visa card?
Making a credit card would be forgery and illegal. A minor is not able to sign a contract and is not allowed to incur debt. Their parents may give them a card, but the parents are responsible for the debt.
Is a child responsible for any debt owed by parents upon their death?
They are not personally responsible. The estate has the responsibility to resolve the debts. If the assets are not adequate to resolve them, they have to be written off.
Do you assume child support debt if you marry someone who is paying in New Mexico?
No. Only biological parents or adopting parents are responsible for the financial support of minor children.
