Can I Be Responsible for a Debt if It Was Incurred While I Was a Minor?

A minor may enter into a contract, including obtaining a loan for various items. Whether or not you are responsible for settling an old debt you agreed to as a minor depends on any action you took concerning the loan contract while you were still a minor, and the purpose of the debt.

Minors and Contracts

A minor may void a contract at any time, with a few exceptions. Minors who enter into contracts that provide necessities to their health and safety may not void the contract. Contracts for necessities may include housing, clothing, food and even a mode of transportation. A minor may not choose to try to enforce select parts of a contract on the other party if the minor chooses to void any portion of the contract. If a minor decides to void a contract, the minor may not void only parts of the contract, but must void the contract in its entirety.

Voiding the Contract

A minor must take certain actions to void a contract, which makes the contract unenforceable. While still a minor, the person must file suit against the other party named in the contract and argue that the contract should not be enforced because of the person's age. If the minor is sued by the other party named in the contract, the minor may raise a defense against the suit based on the minor's age and move to void the contract and have the lawsuit thrown out of the court. The minor may be required to return any property, including money, that was included in the loan to the other party for the loan to be voided.

Time Frame

To void a contract, a minor must act within a certain time frame, otherwise the contract will stay valid and enforceable so long as the contract adheres to the law. Once a person turns 18 years old and is no longer considered a minor, that person may not void any contracts. Depending on local laws, a person who has turned 18 may be given a certain amount of time after becoming a legal adult to void any contracts he entered into as a minor.

Ratifying a Contract

If you entered a contract involving a loan and you did not void the contract while you were a minor, or within a reasonable period after becoming an adult, you have ratified the contract you entered into. Ratification means that you have forsaken your legal right to void the contract, choosing instead to keep the contract enforceable. As an adult who has ratified a contract involving a debt, you are responsible for satisfying that debt as if you originally entered the contract as an adult.