My son was given a bank account by Bank of America when he was 16 years old. I was not with him at the time and have never signed anything giving my permission for him to have the account. I have been told that it is illegal to enter a binding contract with a minor so I don't understand how Bank of America continues to do business this way.
We started to receive phone calls saying that there was a debt to be collected. When I tried to contact the website on the message, I was led to a site saying that the company collecting the debt is a fraudulent one and to beware. I had no idea what debt anyone could collect from me until my son told me that he owed Bank of America $42.62 because they didn't use his overdraft protection when they were supposed to.
Another call was made from the collection agency when we were home so my son called them and told them that they were trying to collect a debt from a minor. They then told him that he needed to pass the information on to his parent so they could pay the debt.
I don't understand why I am expected to pay for a debt that my child made on an account that I didn't give him permission to have. I realise it is only $42.62 but as a single working mother with four children, that money could go a long way towards something else.
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