I have a judgement that was filed by a Credit card company in 2003. I just opened a savings account in my name and my grand daughters name to start putting money away for college. Can this be garnished against this judgement and if so is there some other kind of college fund I can do that they cannot touch.
2006-06-18 17:21:50 · 4 answers · asked by Birdlegs 5 in Business & Finance ➔ Credit
I live in Texas, and yes, the savings account could be garnished against. You had better get your name off of the account before they find out.
Also, a simple savings account is probably the least likely way to save enough money for college so I would re-think that as well...good luck.
2006-06-18 17:29:19 · answer #1 · answered by JC 5 · 0⤊ 0⤋
Are you sure that it is a JUDGEMENT against you? The credit card company would have to take it to court and you would get a chance to dispute it.
If that already took place and there is indeed a judgement for you to pay, then yes - take all your money and put it other accounts that do not bear your name. Once you have paid the amount of the judgement (if you choose to do so) then you are ok to own things again.
That goes for every state.
2006-06-18 17:29:24 · answer #2 · answered by rabble rouser 6 · 0⤊ 0⤋
I would take the account out of your name and put it just in your Grandaughter's name. Yes, they can take it if it has your name on it. Then, I would pay that judgement off, because they can withold it from your life insurance policies, too.
2006-06-18 17:30:59 · answer #3 · answered by latins_snake 2 · 0⤊ 0⤋
I would take the account out of your name and put it just in your Grandaughter's name. Yes, they can take it if it has your name on it. Then, I would pay that judgement off, because they can withold it from your life insurance policies, too.
2006-06-18 17:25:00 · answer #4 · answered by The Nag 5 · 0⤊ 0⤋