If you miss payments or do a voluntary repossession of a RV , can the bank who holds the loan take money out of a joint account?
Lady Lake, FL |
Can the bank who holds the loan go in to a joint checking account (husband's retirement and wife's wages are deposited in it) without notification. Should the wife open a separate account?
RV loan is in husband's name only.
The bank will have to get a judgment in order to attach assets other then the asset that was surrendered. That is unless the document you signed was also a "confession of judgment" which means that when hat is filed they already have one.
When an account or other asset is owned jointly it means that both of you own the entirety. Generally they can attach the entire balance of the account unless the moneis are exempt (social security, etc.)
You should open a seperate account in the name of the person against whom there is no possibility of a judgment to protect the assets.
The first thing you need to do when you get sued is file an Answer. The summons will tell you that you must “appear” by way of an Answer in 10, 20 or 30 days, “depending on the method of service.”
Many people think this means they have to go to Court and this is incorrect. 90% of all lawsuits end in Default Judgments because the defendant (person getting sued) did not file an Answer.
I recommend you go to the free form I have on my website at www.escapedebtnow.com . Print it out and fill it out as instructed. You must answer the numbered paragraphs on the Complaint by writing them into the appropriate lines in the Answer. The Answer will allow you to preserve your rights and will prohibit a default judgment (i.e. you did not show up) from being entered against you.
Mimic the paperwork you got when you got sued. Answer all the paragraphs of the Complaint by writing the numbers in lines 1, 2 or 3.
Almost 100% of attorneys will deny what is owed because they did not do the calculations and do not know what the basis for the number is…
When you file the Answer that is your “not guilty”. You have the right to make the person suing you (Plaintiff) prove their case, but you must also answer the complaint truthfully.
Make sure you fill in the name and address of the attorney suing you before you bring this paperwork to the Court. Mail it to the attorney suing you right away!
Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.