Legal Question in Credit and Debt Law in Pennsylvania

We put money into a cd for my son, and both his name and mine are on the cd. We would like to take money out to buy a car for him. I have a lien against me from a former business partner. Can they touch this money when taken out, even if taken in cash?


Asked on 10/12/10, 2:58 pm

1 Answer from Attorneys
Matthew Nahrgang Nahrgang & Associates, P.C.

Any time your name appears on an account or a title, that asset is at risk from your creditors.

A chapter 7 bankruptcy will eliminate that issue. If you wish to contact me to evaluate your eligibility, I would be happy to do so on a free initial basis

Read more
Answered on 10/18/10, 7:15 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Pennsylvania