QUESTION
Do creditors have the right to freeze a bank account that is in two names?
Asked on Jul 12th, 2011 on Bankruptcy - Florida
More details to this question:
The husband is being sued for bad debt. Can the creditor freeze a checking account with both names on it?
8 ANSWERS
Samuel Lee Tucker
If the creditor has a judgment it can seize a joint account. If the creditor is the depository bank the account can be seized
Answered on Jul 18th, 2011 at 1:11 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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A judgment creditor can levy on a bank account that has the judgment debtor's name on it, even if the account has more than one name on it.
Answered on Jul 18th, 2011 at 1:03 PM
Yes, the creditor can freeze the account and put the burden on you to prove who is entitled to what.
Answered on Jul 18th, 2011 at 11:09 AM
Bankruptcy Attorney serving Herndon, VA
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Maureen O'Malley
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The banks don't look behind the order and the owners of the account. Retain a lawyer to get your money back- if you do iy quickly enough you can get it all back.
Answered on Jul 18th, 2011 at 10:01 AM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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Yes because the money belongs to both and since either co-owner can withdraw it then the creditor of one of the co-owners can do the same. It is not freezing it but having the money paid by the bank to the Sheriff who will send it to the judgment creditor. That is called a "levy" technically.
Answered on Jul 18th, 2011 at 10:01 AM
Spencer Hale
If the husband has funds in the joint account, creditors can freeze the account to obtain access to the husband's funds.
Answered on Jul 16th, 2011 at 6:29 AM
Glen Edward Ashman
Creditors don't "freeze" it. They file a garnishment on it, and yes, they can. Legally an account in two names can be totally seized. In letting things get that far, it means he has ALREADY lost a lawsuit. He should have hired counsel long ago to prevent this. If he quickly hires counsel now, there may still be options to get the money (such as filing Chapter 7 or 13).
Answered on Jul 16th, 2011 at 6:11 AM
Trusts and Estates Attorney serving Jacksonville, FL
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Law Office of David M. Goldman PLLC
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It depends on the circumstances. If the funds are not the other persons it may be possible to have them unfrozen
Answered on Jul 16th, 2011 at 6:10 AM