So, when I was 15, my mom helped me open a bank account because I couldn’t open one by myself. Now I’m 29, and she’s still listed on my account. It wasn’t an issue before, but lately, she’s been facing some financial trouble. She stopped paying her credit card bills and now the bank is suing her for non-payment. Since her name is still on my account, I’m worried that they might go after my wages. The credit card is in her name, not mine, and her finances are separate. But I’m concerned that my account being linked to hers might somehow tie me into this. Do I need to be worried about them coming after my income while I sort this out? Should I just open my own account and get her off my current one?
Open a new account at another bank and transfer your money there. It’s the quickest way to protect yourself. Avoid using the same banking system.
Indigo said:
Open a new account at another bank and transfer your money there. It’s the quickest way to protect yourself. Avoid using the same banking system.
Yeah, get a new account at a different bank and transfer everything from the old joint account right away. Then close it down.
Get her name off the account as soon as you can, or open a new one just for yourself.
Since it’s a joint account, they can claim the money in it.
They won’t directly garnish your wages, but they can definitely take money from the account since her name is on it. That’s why sharing an account with anyone other than a spouse can be risky. It’s not just ‘associated’—it’s her account too. Like others said, open a new account somewhere else and move your money ASAP.
Get a second account just for you and have your paycheck deposited there.
True said:
Get a second account just for you and have your paycheck deposited there.
Make sure it’s at a different bank.
Close that account and open a new one. It’s a bit more complicated than it sounds—they can take money from any account with her name on it to cover her debt. Don’t think of it as ‘just for convenience’—it’s a joint account.
Get yourself off the account ASAP and open a new one somewhere else. If she’s struggling, she can file for Chapter 13 or 7 bankruptcy. She should talk to a lawyer—consultations are free. Once they have a judgment, they can garnish wages or freeze her bank account. If she can afford it, she can try to set up a payment plan with the creditor.
They can go after the bank account in her name and try to drain it. They’ll check if she has a job to garnish wages. Open a new account before the court date and transfer your money there to avoid any issues. Since your name is still on the account, they could take whatever’s in there. I personally avoid joint accounts for this reason.
I agree with everyone else—close that account right away and open a new one at a different bank. If her name is on the account, they can definitely seize the money.
Yes, they can. It happened to me earlier this year with an account I shared with my dad. They froze almost $3,000, though I got it back later. The stress was awful. Once your name is on the account, they can go after it no matter who else is listed.
Yes, they can because you own the account together. Your best option is to open a separate account for yourself and close the joint one.