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If someone goes to jail, their bank accounts remain active unless there are specific legal restrictions placed on them. However, they may not be able to access their accounts while incarcerated, depending on the bank's policies. Family members or a designated power of attorney may be able to manage the accounts on their behalf.
What else can I help you with?
Your sister has a joint bank account with your father what happens to his half after his death?
Upon your father's death, his half of the joint bank account would typically pass directly to your sister as the surviving account holder. It would not be included in his estate and would not go through probate.
Whose name goes first in a joint bank account brides or grooms?
Either the bride's name or the groom's name can go first on a joint bank account. It typically depends on personal preference or convenience. Some couples choose to list the individual who handles the finances more prominently, while others may choose based on alphabetical order.
When someone goes to prison what happens to his credit card debt?
The individual would still be responsible for their credit card debt, but their ability to make payments may be impacted while in prison. The debt will not disappear, and the credit card company may pursue collection efforts or legal action to recover the debt.
What happens to the child when the parent who has custody goes to jail?
When a parent with custody goes to jail, child custody arrangements can vary depending on the situation. The child may go to live with the other parent, a relative, a foster family, or be placed in the care of child protective services. The court will typically make a decision based on the best interests of the child.
What happens when your home is in foreclosure and you have an equity line of credit on this home?
The line of credit is no longer usable and the bank that gave you the line of equity will be asking you to pay the balance. The mortgage holder will also be asking for the deficiency after the foreclosure auction. Alternatively, the banks may send you a 1099 early next year so you will owe taxes on the "forgiven" balance. Get a good bankruptcy lawyer. The law may change in this area when Congress comes back into session.
What happens to the donated blood?
it goes to a blood bank
What happens to property when someone dies with no next of kin?
Typically property that cannot be claimed by kin when someone dies goes to the government. If money is owed on the house it is given to the bank.
What happens when an a- bomb goes off and your in the area?
Read the book Hiroshima. It will tell you real life accounts of what happens, and it is a good book.
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
How to get bank account for bank out-of-business?
A lot of times when a bank goes out of business they are "bought out" and another bank takes over any open accounts that are still remaining. The best thing you could do would be to contact the bank that bought them out (you can probably google that info) and ask them how to proceed so that you may access those accounts. Good luck!
How does FDIC insurance work?
The FDIC provides to $200,000 of insurance per bank account. This means that if the bank goes under, you will still have your money. If you have more than $200,000, you will need to put in in multiple bank accounts.
What happens if your house is in trust and goes to foreclosure?
What happens? the bank forecloses of course. The fact that the house is in a trust doesnt change anything.
Can a bank legally modify your checking account without warning or your approval?
Your bank can deduct amounts from your own accounts for several reasons. If you cash a check that cannot be collected by the bank the bank will deduct the amount of the check from any of your accounts that has a balance. It can do the same if you overdraw one of your accounts. You gave the bank permission to do so when you opened your accounts. The bank can take bank fees from your account and also fees for check orders.
What happens to your house in runescape if you cancel membership?
All Your Stuff GOes TO Bank And You Have TO Redecorate It When YOur Member Again...:)
What happens to my loan if a bank goes bankrupt?
If a bank goes bankrupt, your loan may be transferred to another financial institution or a government agency. You will still be responsible for repaying the loan, but the terms and conditions may change.
What is the current interest rate offered on savings accounts at ridgewood savings bank?
On a personal savings account the interest rate is 0.79. The same goes for a business account. Other accounts may have different rates which are on their website.
What happens when you bankrupt someone in Monopoly and they can no longer pay their debts?
When a player in Monopoly goes bankrupt and cannot pay their debts, they are eliminated from the game. Their properties and assets are usually given to the player they owe money to or returned to the bank.
