spouse student loan, garnishment
Date: Thu, 05/14/2009 - 19:30
spouse student loan, garnishment
I just opened a joint bank account with my spouse in the same bank that I have my other accounts in.
My spouse has defaulted student loans. She also has a court judgement and her IRS returns are being garnished.
I know it is possible for them to garnish the assets in our joint bank account. Is it also possible for them to garnish the funds in my personal accounts in my single name? The bank customer service rep said no.
My spouse has defaulted student loans. She also has a court judgement and her IRS returns are being garnished.
I know it is possible for them to garnish the assets in our joint bank account. Is it also possible for them to garnish the funds in my personal accounts in my single name? The bank customer service rep said no.
nope not unless his name in it..is he authorized on it?
nope not unless his name in it..is he authorized on it?
Thanks for reply
Thank you soaplady. Just to explain, i am cosigner on our common account. My wife has her name on this account only and not on my other personal accounts. However, it is in the same bank.
Hypothetical question: If this joint account somehow mistakenly goes into bad standing and the bank reports it to the credit agencies. Will I become liable for all her previous bad credit including default student loans.
I have been reading alot and have not found the answer to this question.