Debt in my name / can they come after joint accounts...

[dscurlock]

I have several good size debt accounts in my name only. if they decide to come after bank accounts, will they be able to come after any joint accounts? I asked the bank this, and they said yes because we are married..what? that does not make sense, just because we are married, does not make my wife responsible for my debt... its my debt, but her money in our accounts.
I am currently unemployeed.

I do not want to log in one day and find out that I have empty accounts as I have heard that people have had their accounts raped...

Thanks for your help.

[NoTomatoCan]

It doesn't make your wife responsible for your debt. But since you both have equal rights to the funds in your joint accounts, they are simply going after money that, by law, is rightfully yours.

[dscurlock]

It doesn't make your wife responsible for your debt. But since you both have equal rights to the funds in your joint accounts, they are simply going after money that, by law, is rightfully yours.

and you know this for sure?

true, we have equal rights to the account, but that does
not mean she gives permission to pay my debt...if they
come after any accounts, they will taking her money...

does anyone know a for sure sign or notice they will
attempt to levi accounts?

[bkpain]

From what I can gather in depends on the state. Here in for thing owned jointly by husband and wife can't be touched by a debt owed by only one. I don't have all the details I'm still learning but heres some info I copied of another site


Tenancy by the entirety is a special kind of property ownership that's only for married couples in a handful of states. With tenancy by the entirety, both spouses have the right to enjoy the entire property. In the event that only one files bankruptcy and property is held in both names, then the property is 100% protected. If both file bankruptcy, however, the property is not protected and may be liquidated to pay back any unsecured creditors. Tenancy also applies to judgment liens (i.e. liens on home, checking accounts, etc.) Some states allow tenancy by the entirety rights for all property, whereas others reserve it only for real estate. Tenancy by the entirety property ownership rights apply to all debts except IRS tax debt.

Full Fledged Tenancy by the Entirety States
# Alaska
# Arkansas
# Delaware
# District of Columbia
# Florida
# Hawaii
# Maryland
# Massachusetts
# Mississippi
# Missouri
# New Jersey
# Mississippi
# Oklahoma
# Pennsylvania
# Rhode Island
# Tennessee
# Vermont
# Virginia
# Tennessee
# Wyoming

Tenancy by the Entirety Only for Real Estate
# Alaska
# Illinois
# Indiana
# Kentucky
# Michigan
# New York
# North Carolina
# Oregon

[dscurlock]

I live in MN - and do not understand a word that you wrote above

can you put that in simple terms.

Thanks

[bkpain]

You're out of luck MN isn't listed. Pretty much the "marital assets" are their own entity and can't be attached by one one person's debt.

[dscurlock]

I think I have found the solution...

http://caveatemptorblog.com/minnesotans-may-sue-if-a-debt-collector-levies-funds-in-a-joint-account/

The states have a hodgepodge of rules that govern money held in joint accounts, but Minnesota has adopted the Multi-Party Accounts Act, under which the person who deposited the funds, owns the funds. In order to garnish or levy funds in a joint account, a creditor must first prove who owns those funds. This only makes sense; you do not get to take Joe’s money to pay Jimmy’s debt.

[OHBOY]

I have several good size debt accounts in my name only. if they decide to come after bank accounts, will they be able to come after any joint accounts? I asked the bank this, and they said yes because we are married..what? that does not make sense, just because we are married, does not make my wife responsible for my debt... its my debt, but her money in our accounts.
I am currently unemployeed.

I do not want to log in one day and find out that I have empty accounts as I have heard that people have had their accounts raped...

Thanks for your help.

Listen to what your bank is telling you....They would be the ones 'doling out' the funds.
Why not simplify things and get separate accounts....of course that would not mean that YOUR account can't still be 'cleaned'...

[dub]

Tenancy by the Entirety (Only for Real Estate in North Carolina) is what my lawyer spoke of during my initial consult. I went in hoping to protect a small tract of land that is paid off, that borders the lot my house sits on. Because that small tract is in both my name and my wife's, and only I am filing bankruptcy, it is protected!

[dscurlock]

I agree with Minnesota's ruling - I do not think my debt should be anothers
responsibility just because we have joint accounts. Jenn's money should
not be seized in order to pay johns debts... as stated above...

[OHBOY]

I agree with Minnesota's ruling - I do not think my debt should be anothers
responsibility just because we have joint accounts. Jenn's money should
not be seized in order to pay johns debts... as stated above...

Well, than it's all solved...just make sure the bank knows about it & acts accordingly....Good Luck

[stressed105]

I live in Oklahoma. I am facing a judgment on my debt - not husbands from Discover. Can I use this law to protect the vehicles that are in both of our names and our joint bank account?

[WhatMoney]

You cannot protect any joint bank account. There are no laws to protect one joint holder, despite what some hear may think. You may be able to get a judge to give back the money in a seized joint account if you can prove the ownership of the funds belongs to the non-debtor and you are not in a community property state. That will cost you attorney fees and a court hearing to fight the seizure - and there is no guarantee you will win.

Do NOT put the the non-debtor at risk by holding a joint bank account with them.

[keptdigging]

Why makes things so complicated? Just have your spouse open a separate account and keep her money there.

[LostNFound]

Good advice. Maybe it's time that we separate our checking account!
Just to get back to the question that was asked, "are there any sure signs that your account is about to be emptied?"

I'm thinking I read here that you need to have a claim against you first. However, I've not yet been in that type of a situation so I'm hoping someone on this board will have a better idea to share with you.