Judgement-creditor levy joint spouse bank a/c Mass

[MelissaR]

Massachusetts

Can a judgement creditor levy funds held jointly by me and my spouse under Mass law?
I am the debtor and the debt was incurred by me alone. The debt was incurred before our marriage and was not to buy anything that benefits us both (student loan debt).
The source of the funds was a gift to my husband.
The funds are held in CDs.

I'm worried that they may decide to sue for recovery even though I know they don't often do so

 

[adjusterjack]

Can a judgement creditor levy funds held jointly by me and my spouse under Mass law?

I think you mean can a creditor levy your fund successfully.

Here's the process: Lawsuit, Judgment, Levy served on the bank, Bank freezes account for a certain number of days during which you have the opportunity to challenge the levy in court and PROVE with EVIDENCE whose money belongs to who. That is not going to be easy and meantime your money is frozen while you have to pay a lawyer (money you don't get back) or search the legal forums for how-to advice which nobody can give you because it's the unlicensed practice of law.

If you have a debt on which you have defaulted and want to avoid the potential hassle I suggest that you and your husband take precautions now.
Find two more banks and segregate all your money into separate banks (not joint accounts). Do not use the one you already have because your creditor already knows about it.

 

[MelissaR]

Thank you for replying.
Regarding the idea of moving the money -
If the creditor is US Dept of Ed, then finding the account at another bank should be child's play, yes?
I don't know for certain that they know about the account. I know only that they grabbed our tax return for the first time. That's their usual method of recovery, taking tax returns and garnishing SS retirement. Lawsuits are very, very rare.
I understand that the USDOE is such a mess right now that they can barely find their own tushies with both hands. LOL
Thank you again. Food for thought.

 

[Zigner]

Thank you for replying.
Regarding the idea of moving the money -
If the creditor is US Dept of Ed, then finding the account at another bank should be child's play, yes?
I don't know for certain that they know about the account. I know only that they grabbed our tax return for the first time. That's their usual method of recovery, taking tax returns and garnishing SS retirement. Lawsuits are very, very rare.
I understand that the USDOE is such a mess right now that they can barely find their own tushies with both hands. LOL
Thank you again. Food for thought.

You didn't understand what you are told. Find two separate banks. You keep all of your money in your own account in your own bank. He keeps all of his money in his own account at his own bank. That way, when YOUR money gets levied, HIS money will not be touched.