Why is it legal for a bank to take a high school student's paycheck to pay her mother's credit card bill?I have a high school checking/savings account that my paycheck is directly deposited into. I was told by the bank that because I turned eighteen a month ago, my mother and I are considered to be two adults on a joint account, and that anything I make is considered to be her assets as well. The only reason she is on... |
You do not mention where you live for each state or country have different rules.
I will assume you live in the US.
Also sorry to say that since your Mom was a co-signer for you to obtain the account--they are with-in legal right to take the money.
Does mother have a judgement against her?
The only way you would be able to do anything is to take your Mom to court and sue her for the money which was taken out of the account. Because legally-the account was not just yours, it belonged to both of you. Is this worth it? Depends on how much they took and if you want to sue your Mom. It is good to hear that you are , at the age of 18, are a responsible person--I hope you continue to do so through life.
I would suggest you speak with a branch manager not a service representative, of your bank and in quire as to why they did this and what legal papers did they receive in-order to do this, then ask for copies of all these papers.
Have you asked your Mom? Maybe because she knew you had money in this account and she needed money--she authorised this transaction?
This is one reason why you never have a bank account in any one else's name but your own--same with credit cards--no other authorised users.
Good thing you took your Mom off of the account.
Hope things work out for you.
Edit: I watched the Derby today---my horse lost, but at least it was a most exciting race!
I'm also glad that your Mom is willing to rectify the situation.
We have the Kentucky Derby shown on telly over here--it is a shame the US does not show the Melbourne cup--which is the equivalent of the Derby.
Just bring the account documents that show the account was yours, and not a joint account. Bring withdrawal and deposit records if you have them, and if you don't have them the bank can provide them.
The reason it's legal to take funds from a joint account is that a debtor loses certain rights when they go into debt. The person or company that is owed the money has the right to be paid from any account or source of income that the debtor has access to. I don't know why your mother allowed herself to spend more on her credit card than she could pay back, but the second she did that she endangered her financial status and anyone else's that is financially involved with her.
The account is actually a joint account to the credit card company and the law, it is her account, which you can also draw from. Minors can not enter into real contracts, thus financial institutions don't like to deal with them as they cannot be held accountable for things like over drawn accounts.
You need to get your mothers name off of the account. If you don't this will happen again. Go and close that account and open a new one in your name alone.
If your mother was on the account, then she has access to it as does the bank
