QUESTION
If my paycheck is already being garnished 25 percent, can the creditor also drain my joint bank account?
Asked on Apr 21st, 2013 on Bankruptcy - Michigan
More details to this question:
How do I stop them from taking all of me and my wife's money from our joint account?
6 ANSWERS
Family Attorney serving Henderson, NV
at
Harris, Yug & Ohlinger
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Assuming that what's in your bank account is also wages, then no they've already taken their bite.
Answered on Apr 22nd, 2013 at 1:43 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
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Yes, depending on the exemption law of the state where you live. It is best to talk to an experienced bankruptcy attorney in order to determine you rights and how to protect your future earnings.
Answered on Apr 22nd, 2013 at 1:43 PM
File a claim of exemption with the court.
Answered on Apr 22nd, 2013 at 1:42 PM
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
1. Illinois does not permit 25% garnishment. The garnishment is either federal or from another state. 2. Under Illinois law (this varies widely between states), money in a joint account is presumptively owned by the party subject to garnishment. The other account holder can prove what belongs to him/her. Documentation of the source of the deposits is essential. 3. There is a $4,000 "wildcard" exemption under Illinois law that can be applied to the debtor's portion of a bank account.
Answered on Apr 22nd, 2013 at 1:39 PM
You can file for bankruptcy protection.
Answered on Apr 22nd, 2013 at 1:39 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
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Yes, simply because you are being garnished does not mean that you cannot have your very assets, including, to some extent, joint accounts attached. You really need to see an attorney to determine how to hold your assets in order to minimize their availability to creditors. It is imperative to act immediately.
Answered on Apr 22nd, 2013 at 1:38 PM