I am filing for chapter 7 bankruptcy. My wife is not. 5 years ago, My wife had $20,000 transferred into a savings account in her name. 1 year later it was advised by our bank for her to open a money market account. When she did, both of our names were attached to that account. The money market account has a different account number from the original savings account. Will her money be safe if I file for a chapter 7?
2 Answers from Attorneys
You need to consult with an Alabama attorney. You may have enough exemptions to cover it but I don't really know. http://www.superdebtbuster.com
You will not have enough exemptions to cover it. You will need to show where the original $20,000 came from and have some documentation that you never signed for the money market account, furthermore, that the bank just put it in both names. If your name or signature is not on the document, that can be used to show the trustee. By the way, I am in Birmingham but a native of your zip code. Please let me know if I can be of assistance and call me. I would love to help if I can.
Related Questions & Answers
I filed bankruptcy in 2009. I completed my terms in August 2012. My lawyer did not... Asked 10/23/13, 9:06 am in United States Alabama Bankruptcy Law
I got a divorce and agreed to pay a credit card off for my X...She later filed... Asked 8/29/13, 7:06 am in United States Alabama Bankruptcy Law
I've filed chapter 13 bankruptcy - 3 months ago. I have some whole life insurance I... Asked 7/30/13, 4:06 pm in United States Alabama Bankruptcy Law
I have been trying to sell my mobile home for over a year now and haven't had anyone... Asked 1/28/13, 12:49 pm in United States Alabama Bankruptcy Law
I own a house that is worth no more than $10,000. If I sell this house and use the... Asked 6/03/12, 10:22 am in United States Alabama Bankruptcy Law