If my loanaccount goes into default, can my mother's personal account be debited for what is due if I am only an authorized signer on her account?
If you are truly only an authorized signer on the account, your creditors should not be able to access funds there. Depending on state law, if a creditor were to suspect that you were hiding your own funds in your mother's account, a court might hear a claim that the creditor should be able to attach funds in the account to force the issue of payment.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If you are truly only an authorized signer on the account, your creditors should not be able to access funds there. Depending on state law, if a creditor were to suspect that you were hiding your own funds in your mother's account, a court might hear a claim that the creditor should be able to attach funds in the account to force the issue of payment.