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Home > Money & Services > Bankruptcy & Debt   »   Can debtors put liens on accts owned by 2 individuals?

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Old May 12, 2008, 07:19 AM
indebtbs
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Can debtors put liens on accts owned by 2 individuals?
Hi - I have credit card debt and am working with a debt resolution company to pay off my debt. An elderly aunt wants to transfer her assets into mine and my brothers's name (a living will). Can my credit card companies attach liens on these assets that would be in mine and my brother's name? First and foremost, I don't want my family to know the financial situation that I'm currently in. Secondly, I don't want these assets affected.

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Old May 12, 2008, 07:37 AM   #2  
ScottGem
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Any asset that you are a joint owner of could be attached. However, what your aunt is referring to is a living trust (not a living will), In that case, the trust owns the assets with you and your brother as beneficiary.
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