The
divorce decree made my former spouse responsible for the debt, but he isn't
paying. Given this, the bank says it's my responsibility as a joint account
holder to payoff the debt. Is this correct? Yes, if the account was a joint
account. Joint credit account holders remain liable on the account until the
debt is satisfied or some other manner of release occurs.
When
married joint account holders get divorced, the following factors apply:
*
The terms of a divorce decree do not affect the legal obligation of both parties
to repay the debt.
*
Although the creditor may agree to release one party, it is not legally required
to do so.
The
bank closed my checking account and did not notify me. Is this legal? Yes.
Generally, national banks may close deposit accounts for any reason (e.g.,
inactivity or low usage) and without notice. Federal banking laws and regulation
do not address the closing of deposit accounts.
This
issue is governed by the Deposit Account Agreement you received when you opened
your account. Review that Agreement, and contact your bank directly for more
information.
I
want to close my overdrawn checking account to avoid more overdraft fees, but
the bank refuses to do so. Generally, banks will
not close accounts in overdrawn status. You may want to review your account
disclosure and contact the bank for more information.
