Difference between revisions of "Contracts Made by Minors"

In addition to gathering and confirming all information on the financial circumstances of the client, including income and expenses, assets and debts, and future prospects for changes in income, check for guarantors in credit contracts made by minors who are clients. It may be that the creditor has obtained a guarantee from a parent or other responsible individual as part of extending credit to the minor. (See the section on Co-signing, Guarantees and Joint Debts.)