Bank account as a minor affecting her credit?

[KM2004]

Sorry guys. It seems like whenever I have a problem with my MIL, I post here. There's just so much help it's hard to resist.

My MIL years back opened a bank account with my wife when she (my wife) was under 18. Now, my MIL has recently overdrawn that account by over $350. Does anyone know whether my wife's credit will be affected by this?

Here's to hoping you'll say no. This lady.....grr.

 

[mrsltg]

In a word, yes. Writing bad checks effects your credit. However, it needs to be more than one time - generally. Your wife needs to get her name off of the account - ASAP.

 

[KM2004]

Darn it...

So being a minor when opening the account doesn't matter?

 

[DizBelle]

Darn it...

So being a minor when opening the account doesn't matter?

Well, she's not a minor now.....

 

[KM2004]

Oh well. I was hoping...Thanks

 

[Crankyshank]

If your wife is still on the account then yes it will affect her credit unless MIL is able to cover the overdraft and subsequent fees. It doesn't matter how old she was when it was opened. what matters is the here and now.
I would suggest your wife get her name off of that account ASAP.