Read your account disclosures. There may be a clause that calls for cross-collateralization or cross-account offset. If you misuse one account, they may have the right to offset funds in another account held by one of the responsible parties. For example, if John is a co-signer on an signature loan under account "A" that is held joint with Cindy and payments are not made, they may be able to reach into account "b" held solely by John and recover payments.
A joint account is just another bank account which can be used for any purpose. Yes, you can use it to take a personal loan or pay for one. There are no restrictions reg. joint accounts not be linked with personal loans.
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
If a joint account with a wife had been frozen because of a debt she owed, a husband's personal account can also be frozen, but it depends on when the debt was acquired and who the money is owed to. A legal professional will be able to advise a person about the laws of their state as it may differ about community property laws.
If it is a joint bank account, then yes. But a savings account cannot be drawn from very many times before handling fees are applied for most banks.
Full ownership of a joint account passes to the surviving joint owner unless the joint account was set up for purposes of convenience only and the account is otherwise devised in a will.
A joint account is just another bank account which can be used for any purpose. Yes, you can use it to take a personal loan or pay for one. There are no restrictions reg. joint accounts not be linked with personal loans.
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
Answer: In some jurisdictions if there is some proof that the account was made a joint account only for purposes of convenience then the assets in the account would become a part of the estate. Many people leave particular instructions regarding joint accounts in their Wills either stating that the account is to go to the joint owner or that it was only made joint for convenience.
If a joint account with a wife had been frozen because of a debt she owed, a husband's personal account can also be frozen, but it depends on when the debt was acquired and who the money is owed to. A legal professional will be able to advise a person about the laws of their state as it may differ about community property laws.
A joint account holder cannot be removed from the account, the account will have to be closed.
a joint account is an account that is joint together for an opening account. While beneficiary account are people that gain some promo from the bank
Yes to the extent that the loan becomes an asset (bank account, etc.).
From personal experience with a big UK bank, I csan say that our joint account wasn't frozen when my wife died. I don't know about the crest of the EU.
Only if it is a joint account or payable on death to the "common law spouse". If it is a sole account in your mother's name then it is a part of her estate.
If it is a joint bank account, then yes. But a savings account cannot be drawn from very many times before handling fees are applied for most banks.
Yes. If you want to get out of a joint account, you can contact the bank and submit a written request to be removed as a joint holder of that account. The other parties involved in the joint account have to approve your removal from the account, only then the bank will complete the formalities.
Full ownership of a joint account passes to the surviving joint owner unless the joint account was set up for purposes of convenience only and the account is otherwise devised in a will.