Legal Question in Credit and Debt Law in North Carolina
My brother and I have put away funds in the amount of about $35,000 to be used to help pay for our mothers care. It is in both of our names and can be used only for that purpose and must be agreed on by both of us. I have some credit card and real estste debt. My question is, in the state of North Carolina, can a mortgage company, or a credit car company demand I use all or part of these funds to pay towards my debt? Thanks
Asked on 12/27/10, 6:39 pm
1 Answer from Attorneys
Bob Bollinger
Bollinger Law Firm PC
If the creditor gets a judgment against you in court then your one-half share of that joint account with your brother can be seized to pay that judgment.
Answered on 1/03/11, 2:43 pm
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