Should I take my wife’s name off my bank account that I get my SSD direct deposit in, if she is being sued by creditors?

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Should I take my wife’s name off my bank account that I get my SSD direct deposit in, if she is being sued by creditors?

Asked on February 20, 2012 under Bankruptcy Law, Iowa

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Yes, you should remove your wife's name from your bank account if she is being sued for an unpaid debt. If you keep her name on your bank account and assuming a judgment is obtained against you wife by her creditors, they can levy on the bank account that you are writing about since your wife's name is on it. The result of a successful levy is that the money from the bank account would be used to pay off the judgment against your wife.

In fact, you and your wife might consider placing all of your bank accounts in your name and not hers.


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