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Can a joint bank account be seized by a collection agency in New York?
Wiki User
∙ 17y ago
Yup. That is the risk you run when using a joint account. My advice - NEVER use a joint banking account. I know its supposed to be a sign of love and all, but it can cause a lot more problems then you realize. For tax purposes, and for balancing purposes - keep your own account. No matter how much your in love, there really is no need to pool your money together. * All bank accounts are subject to creditor judgment levy with one exception which is joint marital accounts held as Tenancy By The Entirety where only one spouse is the debtor. New York is a Tenancy By The Entirety State. ------------------------------------------------------------------------------------ Yup Again. It is always in ones interest to stay single as far as money is concerned. "Jointship" is dangerous! Pull out any monies you can before it is to late and never do this again!!!! Y-THINK-Y
Wiki User
∙ 17y ago
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Could a joint bank account be seized for a judgment against only one spouse in the state of Texas?
Yes.
Can collection agencies take money from a joint savings account?
This may depend on the country your in, but I would suggest not. If the debt in question is a debt solely in your name, this will mean the other party on your joint account is not liable for your debt, so they cannot take funds from your joint account.
Who is responsible for credit card debt?
Generally, the person that signed up for the credit card is responsible. If any users were added to the account, they are also responsible. This include joint accounts. You cannot inherit credit card debt. So, do not believe a collection agency when they tell you that. See the FDCPA for your rights in debt collection.
What happens if you have a joint account and one of the parties dies?
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.
Can two minors can open a joint account?
No. Two minors can not open a joint account
Can a collection agency freeze a joint account in the state of North Carolina?
In the state of North Carolina, it is very hard to seize a bank account. When an account is joint, it can not be seized unless the debt is the debt of both parties.
Can collection agency take money out of joint account in ct?
Yes they can.
Can a collection agency take nintey percent of the money in your joint checking account and savings account?
A collection agency can take 100% of the money in your joint banking accounts, regardless of who deposited it. If the debt is owed, and there are assets in the name of the debtor, those assets are in jeopardy. It is not easy to hide these even by trying to shelter them in an account with someone else's name. If the asset exists, it will be found in most cases, and a collection agency that locates it will take all they can the first time they hit it.
Can a creditor or collection agency access another family member's bank account for debt collection?
Well in Canada they cannot, unless it is a joint bank account or the family member co-signed for the loan.
Can a collection agency levy your bank account if your name is on the account only for convenience?
Yes. That is one of the risks associated with having a joint account. Your creditor can attach the funds pursuant to a court judgment.
Can a collection agency put a levy on a joint checking account in Texas if the debt was your spouse's prior to your marriage?
In Texas, a collection agency can potentially levy a joint checking account, even if the debt was solely your spouse's prior to your marriage. Joint accounts are considered the assets of both account holders and are subject to collection efforts. It is advisable to consult with an attorney for specific legal advice regarding your situation.
You were an authorized user on your mothers account not a card holder and after her bankruptcy a collection agency is harassing you?
If you are an authorized user then it is not your debt but your mother's debt. Your mother's bankruptcy discharged (wiped out) the debt in question. The collection agency is not allowed to collect from you as, again, it is not your debt. This would not be the case if you were a joint debtor with your mother.
Can collection agency freeze a joint checking account?
Yes, provided this provision is allowed by your state's laws.
Could a joint bank account be seized for a judgment against only one spouse in the state of Texas?
Yes.
Can collection agencies take money from a joint savings account?
This may depend on the country your in, but I would suggest not. If the debt in question is a debt solely in your name, this will mean the other party on your joint account is not liable for your debt, so they cannot take funds from your joint account.
Who is responsible for credit card debt?
Generally, the person that signed up for the credit card is responsible. If any users were added to the account, they are also responsible. This include joint accounts. You cannot inherit credit card debt. So, do not believe a collection agency when they tell you that. See the FDCPA for your rights in debt collection.
Can childsupport payments be garnished from girlfriends pay check if the father is not working?
Probably not. The girlfriend is not responsible for payment. However if you have a joint account then the payments may be seized from the bank.
