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Can collection agencies take money from a joint savings account?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
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Can husband withdraw from wife's personal savings account?
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.
Can saving account be for a single individual or joint or company?
Savings accounts is meant for individuals and joint . Companies uses the Fixed Account for their regular transactions and eligible for the overdraft facility from the banker.
Can a lawsuit be filed against a bank on a joint savings account if one party takes all the money?
Depends on if the person is the primary on the account, but usually a joint account shares all rights unless otherwise specified. You would have to review your deposit agreement, but normally money in a joint account can be withdrawn or the account closed by either party.
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 creditors garnish a joint savings account you had with your deceased mother?
Maybe. It depends on how the account is set up and the laws of your state of residency that governs creditor judgment actions. It also would depend on whether or not the amount in the account that was your mother's was probated according to state law.
Can you change a savings account to joint account?
You may be able to add someone to your savings account ..contact the bank where you have the savings account for details
Is a joint savings account considered taxable as part of an estate?
My mother and i have a joint savings account my mother passed away does the money in the account become part of the estate
How do you write a letter to a bank to convert savings account to a joint account?
please let us the procedure premier to normal savings account
What does acf mean on a joint checking or savings account?
acf
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.
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 collection agency take money out of joint account in ct?
Yes they can.
Who can access a joint savings account?
Both people can and that's why it's called a 'joint account.' If you have one with a live-in boyfriend or your husband than both of you would have access.
You and your father have a joint savings account separated by 'or'. When he dies does the the money go to probate?
No. When one joint owner of an account dies the account will become the sole property of the surviving owner with no need of probate.
What is a joint savings account?
A Joint Savings Account is when two people have joint access to the savings account. If a Wife and Husband, Boyfriend and girlfriend, parents and child open a Joint Account then "either" one of them can access ALL the money in the account. If one of them is involved in an illegal activity the Police can freeze the WHOLE account and "can" take ALL the money. It would be up to you to prove the money didn't come from the illegal activity. (Actually they would freeze separate accounts in the same household also) Good and bad parts are you both can access the money as needed, but the other person can "empty" the account with out your say so.
Can husband withdraw from wife's personal savings account?
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.
On a joint savings account and one person dies does all the money get frozen?
No. The account becomes the sole property of the survivor.
