Can they Level on a Joint Account

[ulita]

I want to open a checking account with my Mom, I got the judgement she is Clean can can they level on account that has both our names on it.

[BKParalegal]

The term is levy and yes. If your name is on it, then it is exposed to being garnished. You could just be a signatory on your moms account and not actually be on it but avoid putting your name on it at this juncture.


Good luck

[ryan]

Ulita, one thing you ought to do is investigate what, if any, the exempted amounts are in your state for judgments.

It should conform to what the BK exemptions are. For instance, in my state a person with a judgment recorded against them can file a doc with the court declaring their right to exempt $4000. from any attachment. Many debtors don't even realize this and have funds levied that would have been covered. Judges and courts will not usually advise you of this. You need to do some research on your own.

[nokia123]

Ulita, one thing you ought to do is investigate what, if any, the exempted amounts are in your state for judgments.

It should conform to what the BK exemptions are. For instance, in my state a person with a judgment recorded against them can file a doc with the court declaring their right to exempt $4000. from any attachment. Many debtors don't even realize this and have funds levied that would have been covered. Judges and courts will not usually advise you of this. You need to do some research on your own.

Very good information, i never knew that.

[ulita]

thank you Ryan, can i get a IDEA where to go looking. a web sites.many people do not know how to found out how to look up the laws in there area.. i will do the leg work but ,where do I start.Thank you

[ryan]

Ulita, I did a brief search, I Googled "New Jersey judgment exemptions".....mostly it returned BK exemptions which should be the same (but you still need to verify).... one page said:

QUOTE: Generally, in NJ, almost any assets can be used to satisfy a judgment.

There is, however, an order that creditors must follow in going after a debtor's assets. First, they have to go after cash, then personal property. If both of those are insufficient to cover the judgment, then they can go after real property.

NJ does, however, provide for an exemption of up to $1,000 in personal property.

Read more: http://wiki.answers.com/Q/In_New_Jer...#ixzz1EqxoZZAn

so, it appears that you could claim up to $1000 is protected from levy...but do some more research to nail this down.

[ulita]

Thank you, I just wrote the Nj Court for help and I will be looking all over.It will be great if I could stop my Creditors from touching my paypal account I sell online.This brings in a little money to pay bills and see the Doc