Norman, OK asked in Banking and Consumer Law for Oklahoma

Q: I have a bank my mother helped me get. Her name is on the account. I got a loan she did not cosign can they go after her

I signed for the loan not her, she says because she opened the account they will make her pay it, but this isn't an account were talking about its a loan....I can't afford it I need bankruptcy if I pay them a dime I won't be able to do the bankruptcy cuz I'm broke bad...she wants me to pay them like $500 of the $3000 I owe still out of my taxes but I want to go bankrupt ive been needing to do this for years and it's getting worse everyday around here with the letters and calls. So my question is just because she had her name on my savings account and what used to be a checking account doesn't make her liable for a loan I took out does it? What if she has other accounts with that bank that I am not on? She has opened accounts for all four of my kids and has one herself too that's just hers? Thanks

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1 Lawyer Answer
David Humphreys
David Humphreys
  • Consumer Law Lawyer
  • Santa Fe, NM
  • Licensed in Oklahoma

A: your mom is only liable to the extent she puts any of her money in the account. The bank can definitely drain the joint account to pay down the loan.

1 user found this answer helpful

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