I am filing for bankruptcy in NYC. I have a joint savings account with my mom. There is about $3,000 in it. Would the bankruptcy court consider half the money in this account as mines (since it's a joint account) or will they consider the entire $3,000 mines?
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It depends on how you list it on your petitition.Originally posted by twin mom
Good Luck!
The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation. -
question for Todd or anyone about joint account
Todd - I'd asked a question regarding whether the bankruptcy court would consider all the funds in a joint account as being mines or if they will consdier half to be mines and you responded that 'it depended on how I list the joint account in my petition". Can you tell me what you mean - or tell me the ways I can list it? Thanks.Comment
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Just list that you have $1,500 in the account. You could also withdraw all the money if doing so makes you feel any better. Unless you are trying to discharge a several hundred thousand or millions in debt, nobody is going to investigate your background. If your concern is losing the money don't worry about it, you can protect it by exempting it.Originally posted by twin mom
Good Luck!
The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.Comment
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