Ask Experts Questions for FREE Help !
Ask
    lolo422's Avatar
    lolo422 Posts: 2, Reputation: 1
    New Member
     
    #1

    Feb 4, 2011, 04:20 PM
    We have a 4 person joint business account @ Wells. 1 person is expecting a judgement
    Oregon

    Can a creditor levy a joint business account if only one person has a judgement against them? The person who will have the judgement against them is listed as '%25 owner' on bank acct. documents.
    Our lawyer said to find out how we are titled on the account so we can see if the account is fair game for creditor.
    Can we remove this person from account?

    ScottGem's Avatar
    ScottGem Posts: 64,970, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Feb 4, 2011, 04:55 PM

    Is the business incorporated? If so, then the account is business assets not personal assets and not attachable for personal debt.

    If its not incorporated or some other protected setup, then the title of the account is important. You may be able to remove him but that depends on the business setup.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Joint business account levy, only one person has a judgement against them. [ 0 Answers ]

Oregon Can a creditor levy a joint business account if only one person has a judgement against them? The person who will have the judgement against them is listed as '%25 owner' on bank acct. documents. Can they only levy %25 of $ in account? Can we remove this person from account? How...

Whow can I report a person who charge a person to make him a ligal person in the usa [ 3 Answers ]

A woman that married an illigal immigrant to get him his resident card by charging him money they bught a house under bouth names to present to immigration that they are living together but the truth is they live separe he lives with the mother of his children and she lives with her grilfrien she...

Joint Account with only one person listed on the garnishment [ 1 Answers ]

I am not here to say that I don't owe the debt. We do we stalled for time, and then time ran out. My question here is, the garnishment is on my husand only, I am not list at all. We have a joint bank account, the clerk from the bank called me and told me that they were taking half of what was in...


View more questions Search