Bank account

[kiversjr]

Facts:
A joint bank account was opened by husband and wife approximately 20 years ago with Bank of America. Since that time the husband and wife divorced about ten years ago, but never closed the account which the wife continued to use.

Since the divorce, the husband has had severe financial troubles and appearantly defaulted on the loan from Bank of America and a judgment was issued in their favor.

A couple of days ago Bank of America withdrew all of the funds in the account, approximately $6,200.

Question:
Does Bank of America have the right to withdraw these funds that are not the property of the person that the judgment was in favor of?

 

[garykittrell68]

If your x husband was still on that account then yes they can file a writ of Execution and take the money from that account. (it's considered his property too) However the money has to go in a holding account for approx 30 days. You should contact an attorney right away to help you file the paper work you will need to take this back to the judge that issue the writ of Execution and plead your case........Hury........TICK TOCK

 

[JohnMacek]

most loan agreements include a "right of offset"... meaning if you default, they can take funds due and owing directly from your account (if you have bank account w/ the lender). best not to bank with your lender.