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

[ready2file]

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.

Don't forget about cross-collaterilazation...I got "got" the middle of last month for a BOA biz card that withdrew $360 out of a joint BOA checking account with my mom to offset the biz card. Needless to say, it's now closed!!!

[sidhesadie]

I live in Oregon, so I don't know about other states.

But generally, they will take money from anything with your name on it, and you then get to try to 'prove' why they shouldn't have.

Basically, they WILL take the money out of that joint account, as your bank is telling you. Then you and your wife will have to go to an attny and try to PROVE that all the deposits were made by her, to prove why that money shouldn't have been taken under the law. Good luck getting it back.
Make life simple, have her close that account and open one in her sole name, then they can't touch it.

My business partner had a garnishment for medical bills. The creditor garnished the entire balance of a joint, business, merchant processing account. (We have independent contractors, everyone's money for visa/mc transactions process via this one account, and we then pay out via check each contractor's owned funds) Even though it's a joint business account, which was in the BUSINESS name, because our ssn's are attached to it, the whole account was garnished for her PERSONAL debt. Now...under the law, the money in that account that wasn't hers is exempt. But they already TOOK it, and now we have to submit documenation to prove it wasn't hers, and then, according to the attorney we can 'try' to get some of it back. But it will take MONTHS.

Don't risk it.

[keptdigging]

Just want to chime in: Why leave money in an account that is at risk of being seized? If you've identified the question, you know there is risk. The law isn't nearly as important as who controls the funds. You have control now--get them separated!!! If you have to litigate you lose even if you win.

Banks and creditors won't hesitate to take any money they can... and they have plenty of lawyers to fight your efforts to get the funds back. You can even find that it'll cost you more in legal costs than the money you'd recover.

When one party has credit/creditor issues joint accounts are a bad bad idea. Just don't!