0
My checking and savings account have been frozen by a credit card company. My husband's name is not on this debt but we have a joint checking account. Can they take all of our money?
Wiki User
∙ 13y ago
If it is a joint account, they can take the funds in that account. Depending on which state you live in, there are different exemption rules. In Michigan, they can take all the funds, even if the account is joint, as long as it has your name on it. If your husband had an account with his name only (which is what you may want to set up immediately), then they could not take those funds. Your husband is not legally responsible for your credit card debts if your name is the only name on the credit card. Check with your state's laws regarding collection and exemptions.
Wiki User
∙ 13y ago
It depends on the laws of your jurisdiction and the specific circumstances of your situation. Credit card companies typically have the right to freeze accounts and seek payment for outstanding debts. However, if your husband is not personally liable for the debt and the funds in your joint account are solely his, you may have grounds to challenge the freeze. It is advisable to consult with a legal professional to understand your rights and options in this matter.
Add your answer:
Earn +20 pts
Are there more fees in a checking account compared to a savings account?
Most checking accounts have no fees. Savings account has more fees than checking accounts because of the higher interest yields available in a savings account.
Is there a loan company that will do payday loans with a savings NOT checking account?
Highly unlikely. The check you offer them is a legal promise to pay. With a savings account, you have no means of making such a promise.
How can you split a payment between your savings account and your checking account In the ePay function?
In the ePay function, how can you split a payment between your savings account and your checking account
In the ePay function how can you split a payment between your savings account and your checking account?
In the ePay function, how can you split a payment between your savings account and your checking account
Is it wise to combine my checking and savings account, and why?
It wouldnt be wise to combine unless you are putting money from checking into your savings. A savings account is a little more protected and shouldn't be used as a checking.
What's one difference between a checking account and a savings account?
savings account earns interest.
What makes a savings than a checking account account a better investment?
A savings account earns interest.
What are the various types of bank accounts?
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
Which has a higher interest rate checking or saving?
Generally a savings account pays more interest, but there are some checking accounts that offer rates that are very competitive to savings accounts.
What is a type of savings vehicle?
Checking account
