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About Garnishing Accounts

Can my bank account be garnished? I am a contractor and my minor kids and my mother-in-law are also on my checking account. I live in Missouri.

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If you own funds in an account, that is, you are listed as an owner, the funds in that account could be garnished under the right circumstances. You as an owner have the capability to withdraw all the funds in the account. If you owe a debt and fail to pay, a court or other acceptable authority (such as the IRS) can seize the same funds you had the ability to withdraw.

Published on BankingQuestions.com 12/09/08