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WALLSTREETFIGHTER
WALLSTREETFIGHTER, Attorney
Category: Legal
Satisfied Customers: 15662
Experience:  14 years experience in representing clients, current member of legalshield, legal club of america, NYSUT and UFT attorney
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can a crdit card company after it gets a judgement of a balance

Resolved Question:

can a crdit card company after it gets a judgement of a balance of 6 grand, freeze my joint checking acount with my wife? the debt is hers. i assume if ididnt make the debt they still might be able to get my payroll check thats direct deposited. i live in the state of illinois.
Submitted: 1 year ago.
Category: Legal
Expert:  WALLSTREETFIGHTER replied 1 year ago.

WALLSTREETLAW :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETLAW :

This is a common situation, if you have a joint account her debts can create a problem for your account, and the creditor can go after the income in the joint account to satisfy her debt.

Customer:

so they can freeze a joint account, however can they freeze my account that has my own money in it.

WALLSTREETLAW :

yes, however you will need to file an exemption form

WALLSTREETLAW :

which will show that the money taken was only yours, and if you can show that the garnishment can be lifted and your money released.

Customer:

so the creditor can garnish my checking account that doesnt and never has had her name on it. how do i file a exemption form then. i cant believe they can garnish my account in my nmae only.

Customer:

where and how do i file a exemption form

WALLSTREETLAW :

The link above has the information in Ill,

WALLSTREETLAW :

if the account was only in your name,

WALLSTREETLAW :

it cannot be taken,

WALLSTREETLAW :

only in a joint account,

WALLSTREETLAW :

as the creditor does not know who or where the money came from.

WALLSTREETLAW :

Also, in Ill very debtor has a "wildcard" exemption of $4,000 in any property of the debtor's choice. The debtor can choose to have up to $4,000 in the frozen account declared exempt under this "wildcard" exemption.

WALLSTREETLAW :

every debtor

Customer:

yes, that is what i thought. then basically my wife who doesnt work and my name is XXXXX XXXXX the property cant be touched. great!! i paid 20 gs of her bad debt. the final 9 grand was anough. i have had it. iam done paying for her debt fom 5 years ago. can i write the creditor with the account for the wild card exemption then? or do i write the attorney? remember i live in illinois.

WALLSTREETLAW :

you should contact the bank and ask for the exemption form, also contact the lender as well, and claim the exemption, they may require proof from you as well.

WALLSTREETLAW :

I would call them first,

Customer:

the lender is the bank ( chase) so do i write to them or do i ask the lawyer at the judgement hearing or can i get the form and hand it to the lawyer representing chase at the hearing...would be quicker. i think a adress is on the summons they gave me ( curious the sherriff gave me the summons..wife wasnt home)

WALLSTREETLAW :

I would call the attorney and see if this can be settled before Court, and then appear in Court, with evidence the money deposited is yours only.

Customer:

thus presenting a exemption form as they get the judgement would preserve our joint account....iam negitiating with the lawyer myself....i offered half balance (2500) to be paid in 3 payments. the lawyers are waiting on chase to respond. if i get a a offer iam gonna have them fax me the offer and then pay. i will certainly go to the court to see if they are still trying to be sneaky after ive settled, however usually a bank like chase although jerks dont tend to bend the rules like that.

WALLSTREETLAW :

You should try your best, XXXXX XXXXX advise them your spouse will file a bankruptcy, and they will not get anything.

Customer:

i did that, again they havent heard from chase. i talked to them today and they said check back in 2 to three days. chase can be a difficult bank. i do have the upper hand with having the property in just my name and a seperate account ( lessons from her 30 years of bad spending) however id like to get this off my back. she still has three other credit card amounts from hsbc, target and citibank, all amounting to 4 grand with all four with midland collections. iam thinking if they see we settled they may smell blood and implore the banks to follow suit, thus having to negotiate 3 more credit cards.

WALLSTREETLAW :

this is difficult, the best way to handle this matter, is to remove all joint accounts which you seem to have done, and offer a small settlement on her debts 20-30% of the balance and if they do not accept, let them try to collect,.

Customer:

that is what i thought even though it goes against my grain. i hate stiffing anyone, however i have paid anough. thanks you just drove home what i felt. iam just going to pay all my bills from my checking anf leave her account with 50 bucks in it. they can try to collect, however it may be difficult collecting from my wife who has no job or garnishable checking account. they can keep freezing her account, however it will have nothing of merrit in it.

WALLSTREETLAW :

yes,

WALLSTREETLAW :

Or you can advise her to file a bankruptcy at some point.

WALLSTREETFIGHTER, Attorney
Category: Legal
Satisfied Customers: 15662
Experience: 14 years experience in representing clients, current member of legalshield, legal club of america, NYSUT and UFT attorney
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