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Yes, it can. It doesn't matter whether it is joint or not, as long as one of the signers is the borrower of the original loan. One of you need to call the company and make arrangements immediately in order to possibly stop any more money being taken. Otherwise, any further deposits will be taken until the loan amount and added expenses will be paid off. Good Luck
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A levy was placed on a joint account due to a debt your daughter is disputing can this affect your other checking account?
No, it will only affect ur joint account. Then cannot touch your other account.
If you have a joint checking account in Michigan can a credit card company freeze the account?
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Can you get out of a joint checking account?
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.
Can I add another person to my checking account?
Yes, a member can add anyone, age 18 or older, as a joint owner to his/her account. As long as the joint individual is eligible for a checking account through the credit union or bank. This person has total access to do transactions on only the specific account they are joint on.
Is a joint checking or savings account considered part of an estate?
No. Ownership of a a joint account passes automatically to the surviving joint owner unless it can be proven that the account was set up as joint for purposes of convenience only by the decedent.
A levy was placed on a joint account due to a debt your daughter is disputing can this affect your other checking account?
No, it will only affect ur joint account. Then cannot touch your other account.
If you have a joint checking account in Michigan can a credit card company freeze the account?
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
In the State of Michigan can a joint checking account be garnished if only one person on the account has the judgment against them?
In Michigan, a joint checking account can potentially be garnished if one person on the account has a judgment against them. The funds in the account are typically seen as joint property, meaning they can be used to satisfy the debts of any account holder. However, there may be exceptions if the non-debtor can prove that the funds in the account are solely theirs. It is advisable to consult with a legal professional for specific advice regarding your situation.
How long does a person have to get their money back after funds have been confiscated from a judgment in a joint checking account?
ere does a prpoperty tax is place in account chart i.e.P/L account
Can joint checking accounts held by persons who are not married be garnished?
Yes. A joint account held by persons who are not married nor related can be levied by a judgment creditor to the extent of the funds in the account that belong to the debtor.
When a judgment has been made against a person will this affect checking or savings accounts in Michigan?
A writ of judgment can be used to levy a checking or savings account that belongs to the debtor. Joint accounts can be partially protected but the other account holder must file the proper documents with the court where the judgment was granted. The bank has no obligation to notify the account holder(s) that the account has been levied. The account holder(s) should remove funds and close the account if at all possible. This can only be done BEFORE the judgment has been executed.
Can a joint checking account be frozen if the account holders are not married?
yes it can..the banks does not care if it is a joint account or not and they do not care if you are married
Joint checking account do both have to sign check?
no
Who is considered the head of household regarding garnishment of a joint checking account shared by husband and wife in the State of Florida.?
How a judgment can be enforced on a joint marital bank or any joint account depends upon how the account is identified. The status of such will be noted in the original application for opening an account at the specified financial institution. In Florida bank accounts (savings and checking) belonging to a married couple are considered by default as held as Tenancy By The Entirety. This means both spouses are sole owners of the funds and one may do whatever they choose with such without the permission of the other spouse. It aslo means that if one spouse is the named judgment debtor the account cannot be levied by a judgment creditor. Please note, having such protection is automatic under banking law, but the account holder is responsible for notifying the court and supplying required documentation of the account(s) exemption from judgment attachment.
What does acf mean on a joint checking or savings account?
acf
In Florida can a creditor garnish wages?
In the majority of US states most bank accounts even those that are joint can be levied by a judgment creditor. The determining factor is how the account is established under the existing state laws. Joint marital accounts in states that are held in Tenancy By The Entirety cannot be levied when only one spouse is the debtor.
Can you get out of a joint checking account?
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.
