Personal Bankruptcy Forum


Author:   Ann
Date:   December 4, 2002
Question:  

I discovered on your website that simply being married to someone who has previous debt does not make me liable for his debt. Taking it one step further though, and assuming that the collection agencies act on their threats of court action, and assume that this action includes seizure of assets. Would these assets include bank accounts that are jointly in our names? Can these be taken or are they only able to take 1/2 since by law half would be mine? What if my husband has no income and I am the sole breadwinner, technically any monies in accounts would be earned by me, are they still up for grabs?

 


From:
 

Ann Clarke, Collins Barrow Limited
Date:   December 4, 2002
Answer:   In Alberta, judgement creditors can seize all funds out of a bank account even if it is a joint account. The source of the funds doesn't matter. You may want to open a personal account under your name only and have your pay redirected.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca




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