Are jointly held assets, such as bank accounts, exempt from collection due to a judgement against one spouse?
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Are jointly held assets, such as bank accounts, exempt from collection due to a judgement against one spouse?
Will you please provide a reference for your answer?
Asked on October 29, 2012 under Bankruptcy Law, South Carolina
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
South Carolina laws seem to favor the potential debtor in that wage garnishment is not permitted except for limited circumstances (child support, IRS levy, etc.). Judgement can be gotten by creditors. But in South Carolina, a judgment lien can be attached to real estate only. Even if jointly held. The relevant statute(s) can be found at S.C. Code Ann. Sections 15-35-540, 15-35-810. Good luck.
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