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If you are the not named on the judgment levy, you must file a petition with the court where the judgment was granted to have the confiscated funds belonging to you returned. The court will require proof of what portion of the funds in the account were yours. If the account was held jointly by a married couple in a community property state the total amount of the account if not considered exempt (SS benefits, public assistance, private pensions and disability benefits) is subject to seizure by the judgment creditor even when only one spouse is the judgment debtor.
Wiki User
∙ 17y ago
Wiki User
∙ 11y agoYes, if the creditor has first obtained a judgment against one of the joint owners. However, the creditor cannot take the money in the account without a court order. In order to get the court order, he has to give notice of the levy to both persons who then have the right to object to the turn-over of the funds to the creditor. One obvious objection is that even though the account is in joint names, the money in the account actually belongs to the non-debtor party and should not be taken by a creditor of the debtor party. A joint account does not necessarily signify joint ownership of the funds in the account. It really means that both joint owners have equal access to those funds and the bank will honor checks drawn or withdrawals made by either of them.
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Bank levy on a joint account?
A judgment creditor might be able to levy against a joint account where only one account holder is the debtor. It really depends how the bank account is held and the state laws pertaining to such. One example, joint marital bank accounts held in community property states are subject to levy even if only one spouse is the named debtor.
Can a creditor levy your bank account after the statute of limitations have expired?
No
Can a creditor levy your bank account and how?
A creditor can only levy your bank account by getting a judgment against you. To do that, they must sue you. And they must win in court. If you are sued by a creditor, be sure to show up for court to prevent this from happening.
Can a creditor levy you bank account if you live in Florida?
They just did it on mine!
If you have a levy on a contractors bank account how do you get the bank to pay you the levy?
If the creditor wins a lawsuit and receives a judgment the judgment can possibly be used as a bank account levy. This would depend upon state laws relating to how the bank account is established.
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.
In Pennsylvania can a creditor garnish your wages or levy your bank account?
They can levy bank accounts in most cases, they cannot garnish wages.
Can a creditor with a judgment levy a Montana bank account?
Yes, in most cases such such action is possible by a judgment creditor.
In Texas can a creditor judgment for an unpaid phone bill be enforced as a wage or tax refund garnishment or a bank account levy?
A judgment creditor can levy a bank account even if it is joint. A judgment creditor can only garnish income if there is no other way to recover monies owed. A judgment creditor can place a lien against real property but cannot perfect the lien as a forced sale of a primary residence. A judgment creditor cannot seize a tax refund.
will I be notified before a levy from a creditor (not tax related)can actually levy my bank account?
a creditor with a judgment found my bank account and took the money out and i got a notice of it the same day in the mail. too late my account was zero. it was my social security payment which is illegal.
Can a New Jersey joint bank account be levied against by a judgment creditor when only one account holder is the debtor?
Yes, joint accounts are subject to judgment levy. The non-debtor account holder must present documentation to the court as to the percentage of funds that belong to them to avoid having their monies seized by the judgment creditor. Generally, the court will freeze the account until a decision is made concerning which monies are subject to levy.
Can your bank account be garnished by a creditor in Pennsylvania?
Yes. The state allows the levy of bank accounts even those held jointly by judgment creditor(s).
