What happens when a creditor has a judgment and you have a joint bank account?
The creditor can issue a garnishment (seizure order) to the bank, and freeze all of the money. A separate notice is then sent to the other account holder. They then have the opportunity to come to court and claim that some or all of the money in the account is theirs.
In order to do so, they must come with 2 or 3 months of statements, and proof of the source of the deposits. For example, they need to bring pay advices showing that they are the one who deposited amount X on date Y.
If the joint account holder does not show up in court, the judgment creditor gets the benefit of the doubt, and gets all of the money.
One of the first things we always ask is how did the case get this far. Sometimes there are things we can do to alleviate the problem. Sometimes we will recommend Bankruptcy.
KCLS LIMITS THE GEOGRAPHY IN WHICH WE TAKE CASES.
YOU MUST BE A VIRGINIA RESIDENT.
OUR FEES: Our fees are controlled by the local rules and your situation. They may vary from “free” or probono representation to a flat fee to an hourly fee, depending on your situation.
DISCLOSURE: Pursuant to Federal law, KCLS is a debt relief agency. We help people, who need those services, to file for Bankruptcy, if there is no other option.
If you are not a Virginia Resident, click here to find a lawyer near you.
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You can call us: 804.303.0204
You can fax us: 804.303.0209
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Krumbein Consumer Legal Services, Inc.
5310 Markel Rd. Suite 102
Richmond, VA 23230