I had a joint checking account with my mother when I was fifteen. Unfortunately, my mother overdrew the account and it was closed in poor standing. That same year she declared bankruptcy and the checking account was part of the bankruptcy. I have opened several checking accounts at the same bank since then, but recently I tried to open an account at another bank and I was denied. I am twenty-three now and it turned out that the original account I had with my mother was the problem. They expect me to pay for it even though I was a minor at the time and it was on a bankruptcy declaration. Is this allowed? What should I do?
In some states a minor is allowed to have an account and to contract just as an adult does. That argument may not help you much. Each bank makes its own policies and can choose to do business with you, just as you can choose to do business with it.
Records should drop off, for this type of report, in seven years, so it depends on when the bankruptcy was as to how much longer it will be reflected on your account, and the bank isn't expecting you to pay it now. The bankruptcy took care of that. Unfortunately, it is part of your record. What you can do is to contact the credit bureau and add your personal statement to the record. Indicate that you were a minor on the account and were not otherwise involved in the bankruptcy. That may or may not change the banks mind, but it won't hurt and it won't cost you anything.
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In some states a minor is allowed to have an account and to contract just as an adult does. That argument may not help you much. Each bank makes its own policies and can choose to do business with you, just as you can choose to do business with it.