Gataric v. Colak, 2016 IL App (1st) 151281 presents a collection tug of war between a judgment creditor and a third party concerning funds in a joint bank account. The salient issue is what level of proof the third party must meet in order to rebut the presumption that the bank account funds belong not to …
Tag Archives: garnishment
Creditor Rights In and To a Debtor’s Joint Bank Account – Part II
In re Kuhl, 2012 WL 5935101 (S.D.Ill. 2012) provides a recent synopsis of the rules governing creditor attempts to attach a debtor’s joint bank account. In it, the Chapter 7 bankruptcy trustee sought turnover of the bankrupt debtor’s funds held in three separate joint accounts with her husband. The debtor challenged the trustee’s turnover motion, claiming …
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Creditor Rights To A Debtor’s Joint Bank Account Funds and Life Insurance Policies
(Photo credit: www.wisegeek.com: Google images) In the perpetual cat-and-mouse game played out across the collection law landscape, an important recurring question is what rights a creditor has to a debtor’s joint bank account – an account with two or more account holders. The creditor wants to attach as much of the account as possible to …