I am being Sued by capital one. The legal aid attorney advised me to close my accounts or take my name off all accounts. I dont have a job b...

Question

I am being Sued by capital one. The legal aid attorney advised me to close my accounts or take my name off all accounts. I dont have a job but my kids recieve child support that is directly deposited. My son medical bill is also drafted out that account...Any advice on how to handle that? Also I am on my dad and mom account because I handle their bills, should i remove my name from their accounts?..Thanks

Answer

30 days after suit, or sometime soon thereafter, you will lose, and the creditor can seize your bank accounts. Instead of trying to hide money, you should meet with a bankruptcy lawyer to see if you can eliminate the debt altogether.

Answer

I just answered your follow up question.

Yes, to protect your parents' funds, you should take your name off the accounts. However, check with their bank to determine how you can keep your check writing authority without being a named accountholder. There are ways to do it. It's just a matter of setting up the account the correct way.