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What will happen to a parent bank account if child files for bankruptcy?
Wiki User
∙ 13y ago
The subsidiary can enter into CH11 bankruptcy protection while the parent can remain outside bankruptcy and continue as a going concern. It depends on distribution of the assets and debt tied to both the parent and the subsidiary that can allow the subsidiary to enter into CH11 protection (insolvency where L > A) and be protected by the automatic stay priveleges the federal courts afford, while the parent will continue under its normal course of business and have to make its lenders and creditors whole.
Wiki User
∙ 13y ago
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Can a parent with a bank account in one bank open one for their minor child in another bank?
For example, the parent has an account at Chase, while they want to make a new one for their child at... Wells Fargo. Yes it is possible
What happen if a parent dies and they gave the house to there child and took a loan on there home for repairs what happen to the balance of the loan?
the child continue to pay the loan of her his parents
Would a parent be responsible for credit card debt of their deceased adult child?
Generally no, unless they were a co-signer on the account.
If your child cosigned you for a student loan without your knowledge how do you get your name off of the account?
You are a bad parent. You should have saved money so that you're child would not have to become an indentured servant in exchange for an education.
Can a child take a loan for a parent?
Yeah but will the child pay back? And will the parent allow to give their child a huge amount of money?
Can a parent block a child's email account on gmail?
Yes, they should have the password of the child. By the password they can deactivate the account of the child. However, both the child and parent should agree on this.
What is a parent company account?
Parent company account is the parent's company in consolidated financial statments where parent and child relationship exists in group accounting.
How do you connect a parental account to your child's account on roblox?
Well you need to know the password for the child account then the person will need to make a parent account then when you have the password and you know how to make a parent account you can but beware a kid might not like it.
Can a parent get a student loan for a child if the parent files bankruptcy?
Probably not. What the loan is for isn't the issue. His record of repaying loans is.
Do you need a parent or child email account to create a fantage account?
Either one ... it says parent but i did mine xD
If a parent whips a child what will happen if that child is not theirs?
they can be sent to jail for abuse
Can a child's savings account be seized if a parent is behind on their mortgage?
Absolutely. The account will have been opened by one of the parents - therefore legally speaking the account is the parents property, with the child as beneficiary. If the parent falls behind with the mortgage, the lender can seize anyassets deemed to be owned by the parent !
How does a parent change their child's roblox chat?
Log in with your "Parent Account" then go to manage your child's account, then the very top box down at the bottom of the box you put an X in one of the things.
Can a parent give a child a monetary gift from their company account?
A parent can give a child a monetary gift from their company account. However, they will have to account for this as a business expense in their books. It can become confusing when it is time to figure profit and loss as well as taxes.
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.
Is a parent intitled to a portion of a settlement if the other parent is paying child support?
Only if there are arrears on the child support case and you can convince Child Support Services to garnish the settlement or the bank account of the other parent.
What happens th a parent who fails to semd their child to school in NJ?
What could happen if a parent don't send a child to school in n.j.
