Are jointly held assets, such as bank accounts, exempt from collection due to a judgement against one spouse?

Get Legal Help Today

 Secured with SHA-256 Encryption

Are jointly held assets, such as bank accounts, exempt from collection due to a judgement against one spouse?

Will you please provide a reference for your answer?

Asked on October 29, 2012 under Bankruptcy Law, South Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

South Carolina laws seem to favor the potential debtor in that wage garnishment is not permitted except for limited circumstances (child support, IRS levy, etc.).  Judgement can be gotten by creditors. But in South Carolina, a judgment lien can be attached to real estate only.  Even if jointly held. The relevant statute(s) can be found at S.C. Code Ann. Sections 15-35-540, 15-35-810. Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption