Legal Question in Credit and Debt Law in Florida
Truck loan
My husband is terminally ill and has a truck in his name that he refuses to do anything with (sell, return to lender, etc) and is still making payments. He owes $17,000. I have his name on a joint checking account. Could his creditor's come after the money in that joint checking account even though my name is not on the truck loan?
What could happen if he dies, does the truck get repossessed?
2 Answers from Attorneys
Re: Truck loan
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
Yes. Any monies in a joint account are fair game for a creditor as the account is owned by both parties. Should anything happen to your husband, you can immediately transfer the account to a new one in your name alone although the creditor might filed objections should a court matter later arise.
There may be better methods to safeguard your monies. I would strongly suggest that you consult an attorney to advise you about the same.
Scott R. Jay, Esq.
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