If your wages are being garnished is it legal for your joint checking account to also be garnished?
A bank account cannot be garnished by any creditor if a wage garnishment is already in force. A wage garnishment is implemented before the employee receives wages owed, with the firs $154.50 (weekly based) being exempt from garnishment. Creditor judgments must run consecutively not concurrently. Joint accounts in most states are subject to levy depending upon how the account is established and the laws of the state where it is held. There are exceptions, if child support is being withheld from the person's wages then a creditor garnishment or bank account levy is possible. Other exceptions could be federal tax arrearages, state tax arrearages, child support arrearages and in rare cases spousal maintenance (alimony).
It depends on who the garnisment order is against and how it is written. A joint account where only one person is the debtor can be garnished under certain circumstances. The difficulty in figuring out your situation, is not knowing where you reside. Each state legislates its own laws for garnishment of wages and bank accounts. If you live in a community property state, such as CA. and have a joint marital bank account, it…
Yes, you can open an account with anyone you choose to. Just be careful though! Who ever is the primary on the account (the person listed first on all of the paperwork) will be held responsible if the other joint holder overdrafts the account, and this primary account holder can also be put onto chexsystems do to the joint owner's actions.
Do I as a joint person on a checking account have the right to the check book One of the owners of this account has another person with power of attorney handling the account?
If your checking account is a joint account with your spouse and it has a negative balance and you file chapter seven what happens to your spouse?
She needs to get a checking account in her own name, which means that you both will need to put money into the joint account until it is at least a zero. If you stiff the bank, then it will not be possible for either of you to get a checking account anywhere until you pay the amount owed. As they say, "you don't want to go there."
Can you have a checking account in your name and require 2 signatures to with draw money with out putting that person joint on your account?
My husband had co-signed for a car for his daughter over 7 years ago before I even ment him and the car was reposesed for non payment. The loan company came after my husband and a judgment was filed against him. Although he did not have his own checking account, we have a joint account. (I put him on my account after we married). Unbenounced to me, they went into my checking account seized it…
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.
Checking account that is joint with right of survivorship the joint owner of the account has recently passed away can you close the account?
No she can't as a matter of fact without his written permission she can't even get general information about that account. This is what I found to be amazing, if this couple has a joint savings account, but the husband's name is the only one on the checking account, he is the only one that can legally transfer money from the savings account to the checking account. It also works this way if there is…