Can creditors freeze or take money out of a joint checking account?
Yes, it is possible for creditors to both freeze and take money out of a joint checking account to recover money you owe them. However, they must first sue you and get a judgment against you in court. Your account can then be “frozen” by a court order (you can’t make any withdrawals or write any checks). By law, you should be notified by the bank and have the opportunity to have a prompt hearing. Then, depending on the outcome of the hearing, the creditor may or may not get a “turnover order” from a judge to actually take the money out of your account. If you do not follow through with a hearing, your account may be frozen for up to 90 days, and all funds up to the amount you owe can be taken by the creditor. (Note: Debts resulting from tax and child support matters are exceptions to this process.) There are limits to what creditors can take from you. The following funds CAN NOT be taken from your account: some or all funds from joint depositors who are not named in the court order, So
