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Bankruptcy Affects Joint CD Ownership

My father and mother have a CD with a savings bank. They wanted to put my name on it with them. They are in their 70s. The bank called and said I could not be a signer. We had a bankruptcy in the last six months. Could this be why? I called the bank and they would not disclose any information other than I would receive something in the mail.


Wait for the notice from the bank. Your suspicions will probably be proven correct. There isn't necessarily a valid connection between your bankruptcy and qualifications as an owner of a CD, but that is a policy decision that a bank is permitted to make.

Published on BankingQuestions.com 12/03/08