Yes it can be. I had my Checking account garnished and seized because of my partner. Once was due to "Back Child Support" which was later repaid back to us over time because of a paperwork screw up. FAST to take it but slow to get it back. Even asked if we wanted to gift to his EX REALLY you bounced things because of your mistake then ask us to gift it and then get upset when we said no.
Another time was because of a ticket he got for tail light being out and he forgot about it and poof accounts seized.
So in my experience YES it can
Yes, a bank account can be garnished if the secondary account holder owes someone. If there is a legal judgment against the secondary account holder, the creditor may obtain a court order to garnish funds from that account to satisfy the debt. However, the specific rules and limits for garnishment vary by jurisdiction, so it is best to consult a legal professional for advice specific to your situation.
Pay off the balance and close the account. Then reopen a new account with only the primary holder.
The benefits of having a secondary card holder on a charge account are mostly to the secondary card holder. This person can use the account, but it is the primary person that must pay the bill. Having a secondary person on an account is helpful for providing a credit card in their own names to students and spouses.
Depends on what "Type" of Credit Holder you are. Here is how that will go: If you are what is known as an authorized user on the account. (i.e. - The Primary account holder has given you permission to make charges on the account), the answer is No. The primary account holder is responsible for any charges he/she has allowed you to make on the account. If you are a Secondary account holder (i.e. -your name was put on the account APPLICATION at the time the card was applied for), then your answer is YES. If the Primary account holder defaults on the account, then the credit card company will turn to try and collect from the Secondary account holder. BEWARE of becoming a secondary holder on anything that has to do with credit. If you know that the Primary holder may default, you could get stuck with a huge amount of debt on your hands, and if you can't pay, your nice credit score of 783 could very quickly go down the drain to 535 or lower.
Primary account holder is the person on whose name the bank account is created in the first place. Ex: Assuming you have a bank account and then once you get married you would include your spouse as a joint account holder. you will be the primary account holder and your spouse would be the secondary holder.
It depends if the secondary card holder is a "Joint Account Member" or a "Authorized User". The joint account member is responsible for the balance, the authorized user is not.
Not enough information. What kind of account? What are the institutions, or the lenders rules regarding this? Was it done with criminal intent?
The major difference is that the Primary Account holder is responsible for all the amounts due on both the Primary Card and the Secondary Card.
If the account holder is incapacitated, then someone should obtain the power for attorney for that person. If the account holder is deceased, then you need a death certificate to prove that. And those are the only two circumstances in which it is necessary to close an account when the account holder is not present.
Usually, a new card is issued in the primary card holder's name. Usually both parties on a credit card have to sign off to eliminate the secondary card holder. Your credit card holder can help you with this.
No unless the primary gives the secondary permission too
Yes. Usually when a joint account is garnished by a judgment order and only one person on the account is the debtor, the court will 'freeze' the account and the non debtor account holder will need to submit proof of the amount of funds in the account that belongs to them. An exception could be,if the account is held by a married couple as Tenancy By The Entirety and only one spouse is the debtor.
First of all you can just give a friend your username and password and stop playing!!!