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Yes, a creditor can potentially seize funds from a joint account if one of the account holders has an outstanding debt. However, the rules can vary based on jurisdiction and the specific circumstances of the account. If children are named as joint account holders, the creditor may have limited access to those funds depending on local laws. It's advisable to consult a legal expert for specific guidance in such situations.
What else can I help you with?
Can a creditor seize your checking account after you file bankruptcy?
Not without the approval of the court
Can a creditor garnish wages and seize money from a bank account in Michigan?
A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.
Can a creditor seize your bank account if your income is not enough?
A creditor can not seize your account unless: 1) They are also your bank and you signed agreements allowing "right of offset" where the bank can take funds from your accounts to satisfy delinquent loans you have with them. 2) Your creditor obtained a court order allowing them to attach funds or place a levy on funds. Insufficient income is grounds for credit denial but I am not aware of any possible situation where funds in a bank account may be frozen or taken when a loan is current and low income is the only problem.
In Missouri can a credit card company freeze your bank account for unsecured debt that is not paid?
Yes, if the creditor sues the debtor and wins a judgment, the judgment can be enforced as a bank account levy. Unsecured debt simply indicates that there is no specific property attached to the debt, it does not mean that a creditor cannot use a judgment to seize any non exempted property belonging to the judgment debtor. In some states including Missouri, joint marital bank accounts (unless otherwise stated), are considered to be held as Tenancy By The Entirety. This means that a joint marital TBE account cannot be levied when only one spouse is the named as the judgment debtor.
Obligation to pay to another a certain amount of money which has collateral that the creditor may seize?
secured debt
Can a creditor seize your checking account after you file bankruptcy?
Not without the approval of the court
Does a creditor who you owe money to have the right to seize your bank account in California if they bought out that bank?
yes
What property can a judgment creditor attach if you do not own real property or vehicles and the only money in your checking account is from regular wages?
They can garnish your wages. Texas only allows a judgment creditor to garnish wages if the creditor has no other options available to execute the judgment. A judgment creditor can levy a bank account including a joint account or a joint marital account. Regular earned income (wages) deposited into a bank account are NOT exempt from creditor seizure. The creditor may also seize and liquidate any non exempt assets belonging to the debtor (bonds, stocks, jewelry, livestock, a specified amount of tools of trade, in some cases household furnishings, etc). Texas is a community property state, therefore, it might be possible for the judgment creditor to seize joint marital property even if only one spouse is the debtor. Some income, however, cannot be attached by creditors or persons who prevail in a lawsuit. For example, disability income, Social Security income and military retirement income cannot be garnished or attached by a creditor.
Can a creditor garnish wages and seize money from a bank account in Michigan?
A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.
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.
Can a collection agency freeze a joint account in the state of North Carolina?
In the state of North Carolina, it is very hard to seize a bank account. When an account is joint, it can not be seized unless the debt is the debt of both parties.
Can a creditor seize joint bank accounts?
Usually this is possible. When a bank account held jointly is levied, the account is generally "frozen" by the court until the non debtor account holder(s) is given a chance to submit proof as to their share of the funds. The exception is, in a few states married couples can hold an account in Tenancy By The Entirety. Under such circumstances the account is only subject to levy if both spouses are named debtors.
Can a creditor seize your tax refund?
If the creditor is a government agency, then yes. If the creditor has not won a court settlement to garnish your wages, then no.
Seize bank account for credit card debt?
If your bank account has been seized because of a debt you owe, you should call and work out a payment arrangement with the creditor. You should also start a new bank account.
Can a creditor seize your bank account if your income is not enough?
A creditor can not seize your account unless: 1) They are also your bank and you signed agreements allowing "right of offset" where the bank can take funds from your accounts to satisfy delinquent loans you have with them. 2) Your creditor obtained a court order allowing them to attach funds or place a levy on funds. Insufficient income is grounds for credit denial but I am not aware of any possible situation where funds in a bank account may be frozen or taken when a loan is current and low income is the only problem.
Can the credit card co take your state income tax return you file joint with your husband who is retired?
No. A creditor cannot seize any property belonging to a debtor until said creditor sues the debtor(s) and receives a judgment order.
In Missouri can a credit card company freeze your bank account for unsecured debt that is not paid?
Yes, if the creditor sues the debtor and wins a judgment, the judgment can be enforced as a bank account levy. Unsecured debt simply indicates that there is no specific property attached to the debt, it does not mean that a creditor cannot use a judgment to seize any non exempted property belonging to the judgment debtor. In some states including Missouri, joint marital bank accounts (unless otherwise stated), are considered to be held as Tenancy By The Entirety. This means that a joint marital TBE account cannot be levied when only one spouse is the named as the judgment debtor.
