Your spouse has a lien or bank levy against them for an unpaid debt and creditors are insisting that you are also responsible for their debt. Are they right? When determining if you are responsible for the debt of your spouse, ask yourself these questions: [Read more…]
As we have previously discussed, if you have a bank levy taken out against you and you have a joint account with your spouse or non-spouse, money will be taken out regardless. However, it can differ depending on your unique situation and the state you live in.
Spouses Typically Share Debt Liability
You’re behind on your monthly payments and have found that your account has been frozen by creditors. Can they do that? Simply put, yes. A creditor can freeze your account, also called a bank levy, to collect funds from debts you owe them. Here’s what you need to know if your account is ever frozen: [Read more…]
When a deficiency judgment is being taken out against you, the collector may use a bank levy—a method where your bank account is frozen and funds withdrawn to pay off a debt. A bank levy is different from a wage garnishment in that the levy doesn’t touch your wages unless it is deposited into your bank account. [Read more…]