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Home >> Accounts >> Checking Accounts
Preventing Ex's Creditors from Taking my Money
I had a joint account with my estranged husband that I had to close because his creditors cleaned it out, even though the money in the account wasn't his. I used this account to receive my tax refund via direct deposit and now I learn that the IRS will send out the stimulus checks the same way. My bank says that when the direct deposit comes through the closed account will be reopened and I don't want this to happen. Neither the bank nor the IRS can do anything. What can I do to prevent my ex-husband's creditors from taking my money?
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 Some banks will force an account back open and some would return the funds. If you know the funds will go to that joint account, it may be a matter of who is first in line to withdraw the funds and close the account again.
In your question, you indicate that "the money in the account wasn't his." While the source of the funds may have been directed for your benefit, the account is joint and your estranged husband has ownership over those funds, just as you do.
If the IRS deposit is intended for both of you, you should work out the ownership claim. This is especially so if, like the last "tax rebate" this is in fact an advance refund on the 2009 tax filing. That is, it isn't free money, but would be accounted for on your next tax return. If you collect the entire stimulus rebate, you may be responsible for that entire amount in 2009's tax return.
Published on BankingQuestions.com 4/02/08
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