Can A Creditor Take Money From A Joint Account

Ane of the most effective means for a creditor to collect on a judgment confronting you is to levy your banking company business relationship. In one swipe they tin scoop upward a lot of money all at in one case, especially if they hit information technology correct after you deposited your paycheck.

Only what if you lot aren't the only owner of the bank account? What if someone else (your spouse, your parents, a child) is on the business relationship as well, doesn't owe the creditor the coin, and has deposited money? Tin can the creditor get that as well?

Tin They Levy on the Joint Funds?

Ultimately no, they cannot, just in the meantime it will take some effort on your part to free up the funds. Under New Bailiwick of jersey constabulary, the funds in a joint account are shared equally past the owners. Thus a married couple would split it 50/50, while 3 people would split it into thirds, etc.

Merely this is only a presumption; if most (or all) of the money is owned past your spouse or other depositor, you lot tin object to the bank levy and show, through the use of banking concern statements, that that coin isn't yours.

How Do I Object to the Depository financial institution Levy?

There are 2 ways to get this evidence before a judge. The kickoff way is to object when the creditor makes a Move for Turnover of Funds. The levy just freezes the money in the business relationship; the creditor still has to get a court lodge from a approximate to become the coin out. This is where you lot would respond to the motility with an objection and banking concern statements.

The second way is more pro-active. Yous don't have to wait for the creditor to move to go the money; yous can file your own motion to object to the levy and gratuitous the funds.

For either method you tin can use my free Banking company Levy Survival Kit, which y'all tin download by clicking here. It will give you the grade to fill out and instructions on how to use it.

Just You Still Owe the Money

Getting the money out of the levy is certainly a big win and allows y'all to pay your bills. But in doing so you lot have only won a battle; you still have to fight the state of war. In other words, the creditor still has a judgment confronting you and volition effort other methods to get paid unless you make peace with them.

I Can Aid

As a quondam creditor's attorney, I am fully familiar with their methods and know what they can and cannot practice. In short, I speak "collector." For several years I have put that skill to use helping people pursued by creditors to reach an affordable payment arrangement that will stop the nastiness.

If you live in New Jersey, owe a creditor more than $8,000, tin afford to make monthly payments on the debt, realize that you demand assist, and are set up to take action, then call my office immediately at 856-432-14113 to schedule an engagement. The sooner yous deed, the sooner you lot will have the peace of mind that comes with knowing that they won't be coming after you anymore.

Want more information on how to fight back with your creditors? Then download my free book,The Biggest Secrets Your Creditors Don't Want Y'all to Know. Become empowered and protect your rights!