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Such action cannot be initiated against the non debtor unless the account is jointly held. If that is the case, the non judgment debtor must supply documentation to the court as to the amount of funds belonging soley to them.In such instances the court generally orders all joint accounts be "frozen" until the amount of monies belongng to each account holder can be determined.
In community property states a married couple are considered to own assets acquired during the marriage and debts acquired during the marriage equally even if only one spouse is the named asset holder and/or debtor.
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What is a secure account?
Lying alongside a debt
How do you unsecure your debt once it is secure?
The first step to move secure debt to unsecure is to get a credit report to see how much unsecure credit you can obtain. Apply for different loans and use the unsecure credit to pay off the secure debt.
How does one qualify for second chance checking account?
If a person has outstanding debt or overdrafts they may risk losing their checking account. First they should check with their bank if they are at risk and then if so search other banks for the second chance account and applying for it.
How long will it be before you can open a checking account if you were denied a checking account not because of bankruptcy but because of outstanding debt?
The timeframe for when you can open a checking account after being denied due to outstanding debt varies depending on the specific situation. It is recommended to speak with the bank or credit union that denied your application to understand their specific requirements and timeline for reapplying. Additionally, resolving your outstanding debt and improving your credit may increase your chances of being approved for a checking account in the future.
Is Bond is secure or unsecured debt?
Bonds are norally something a person owns as an asset, not debt.
Who is responsible for credit card debt after death?
The banks would like you to think that the person's family is responsible, but this is not true. The person who made the debt and who has no other person on the account is responsible. This means that a husband or children of the person who died does NOT inherit the debt unless it is a joint account. Your name has to be on the account to have them collect the debt. Otherwise you don't owe what the person left. However, the decedent's estate is responsible for paying their debts. If the decedent owned any assets at the time of death, their debts must be paid before any property can be distributed to the heirs.
What is a debt that is subtracted from the balance of your account?
Account payeable
How does a creditor know where and what bank account to freeze?
The banks send your information to the major credit reporting agencies. In order to freeze your bank account the creditor must obtain a court order to collect on a debt from you. With that court order they can get your account information from the bank to process the freeze/collection.
What is the total account debt as of the statement date called?
The total account debt as of the statement date is called the balance.
During a foreclosure can the mortgage company go into your bank account or asssets?
AnswerChange banks if the lending institution and bank are the same place. By federal law, banks can seize assets from accounts held at their own institution to pay a debt owed to them without notice.
Can a debt collector pull funds out of a joint account if the person holding the debt is not the primary account holder?
yes. i had it happen to me
Who is world debt all owed to?
The debt depends on what country. Ultimately any national debt is owed to the central banking. Private banks.
