15 year old Capital One credit card

[Thumbelina58]

What is the name of your state (only U.S. law)? IN

My son applied for (and received) a Capital One credit card 3 years ago, when he was 15. Naturally, the card didn't last long, especially since he was unemployed. He is now being sued for almost 5 X the limit he had on the card. Since we are his parents and he was a minor, are we responsible for this debt?

Thanks, janet

 

[tranquility]

What is the name of your state (only U.S. law)? IN

My son applied for (and received) a Capital One credit card 3 years ago, when he was 15. Naturally, the card didn't last long, especially since he was unemployed. He is now being sued for almost 5 X the limit he had on the card. Since we are his parents and he was a minor, are we responsible for this debt?

Thanks, janet

I am uncertain as to if this applies, but:
http://codes.lp.findlaw.com/incode/34/31/4/34-31-4-1

Except as provided in section 2 of this chapter, a parent is liable for not more than five thousand dollars ($5,000) in actual damages arising from harm to a person or damage to property knowingly, intentionally, or recklessly caused by the parent's child if:
(1) the parent has custody of the child; and
(2) the child is living with the parent.
As added by P.L.1-1998, SEC.27.

But, there are larger worries. Did he submit a fraudulent application? A 15-year-old can have his life ruined with a credit fraud accusation even as a child.

 

[Thumbelina58]

He says that he answered all the questions truthfully, except the one about his age, and there he added 3 years to show that he was 18. Is the contract even valid since he was a minor? Thank-you. janet

 

[TigerD]

I'm not entirely convinced on this.

The debts may be voidable based on the minor's incapacity to contract.

The OP should consult with an attorney.

DC