In the event of private insolvency, are the children’s accounts monitored?
Good morning
My parents are insolvent because of a few things that went wrong back then, but it's not important
I'm 16 and have my own account, but it's through my mother, at the savings bank, this account with a future or something like that. My question is, since I earn a lot of money through my job, etc., do I need to be careful, and do they see it or can/may take anything from me, or does it matter and have nothing to do with me? The transfers to my account come from companies or PayPal, etc. I know that they have access to my parents' account, but nothing more.
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In general, in the event of a private insolvency, the accounts of the children are not normally monitored. Insolvency concerns only the assets and liabilities of the debtor, not those of his children or other family members. Unless the debtor’s assets are transferred to the child’s account to hide or protect it from the creditors. In this case, the debtor’s creditors may try to cancel the transfer or to obtain access to the child’s account.
However, it is possible for the banks to monitor accounts of family members on the basis of internal rules or on the instruction of a court in order to prevent assets being transferred to protect them from creditors. It is therefore advisable to consult a lawyer to understand the exact effects of insolvency on family members and what measures can be taken to protect assets.
lol simply written with ChatGPT haha
With regard to insolvency, you should have nothing to do with your parents or with your mother, and as long as the account runs on your name, you can be calmed.
Exception; if payments for your parents or for your mother run over your account. Then it’s “hazardous” 🙂
What do you have to do with PayPal as a 16-year-old?
No .. the money or fortune of the children does not belong to the insolvenz mass
No, your account and your fortune are not part of your parents’ insolvency. However, you should not use it to “hit” your parents’ money there, which will go into your pants (if you are playing with the thought).
So watch if your parents suggest you “park” any money on your account, you can’t.
ok thank you, that is clear to my parents there is nothing to hide is all my money
Why would that go into your pants? Besides, you can take away all the money and hide at home 🤷
If you want to make yourself punishable and want to build up your life on criminal machinations with 16 years.