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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.

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13y ago

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