Legal Question in Bankruptcy in New Jersey

my wife and i have separate checking accounts, we also have different creditors who are starting to come after us,my wife's pay has been attached and we are worried her account will be levied. if we open a joint account can they go after the bank account

Asked on 9/11/16, 7:36 am

1 Answer from Attorneys

Jeffrey Walters Law Offices of Jeffrey S. Walters, LLC

Yes they can. Opening a joint account will not avoid a bank levy. Joint bank accounts are exposed to bank levies by creditors for either of the joint account holders who have judgments against them. If a bank account is levied upon, the non-debtor can assert that some or all of the funds in the account belonged to the non-debtor rather than the debtor. But proving that is often difficult once funds are mingled, and you would need to appear in court. And the funds would be frozen while everything is being sorted out, resulting in great inconvenience. This is a basic answer, not a comprehensive one, and does not discuss nuances such as social security or state disability funds being placed into a bank account, or an exemption. If you and/or your wife would like to explore ways to deal with your judgments and other debts, you should call me or another attorney of your choosing.

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Answered on 9/11/16, 8:34 pm

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