You can also be held liable if the damage your child does is intentional, such as breaking a schoolmate's nose in a fight. Most parental accountability laws deal with minor, non-violent crimes, such as skipping school. Supporters of such laws think they may help prevent kids from moving on to more violent crimes by forcing parents to accept responsibility for what their kids do. To avoid serious legal hassles in the future, take time now to talk to your children about the consequences of their actions. This year, about one million Americans are expected to file for personal bankruptcy.
Bankruptcies are on the increase.
One reason is the record level of people who go into debt using their credit card. Another is the relative ease of declaring bankruptcy, erasing debts and starting over. Apply for, and use a debit card. Monitor your credit report. Look into getting a secured VISA or Mastercard.