Can debt collectors freeze a joint bank account if you owe them money?

MoneyWatch: Managing Your Money Can debt collectors freeze a joint bank account if you owe them money? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht May 6, 2026 / 1:51 PM EDT / CBS News Add CBS News on Google If you're behind on debt payments, make sure you understand what could happen to your joint accounts. Ramberg/Getty Images Household budgets are under significant pressure right now, with millions of Americans trying to juggle stubborn (and now rising) living costs and shrinking financial cushions thanks to their rising credit card debt. Today's higher-than-average credit card rates aren't helping, either, as the borrowers who are carrying revolving debt from one month to the next are watching their credit card debt compound rapidly. But the borrowers who have fallen behind on their debt payments are at risk of even higher stress levels once the debt collection process escalates beyond calls and letters and into the legal system.And, that's especially true for borrowers who share financial accounts with a spouse, parent, child or business partner. A joint bank account may seem like a practical way to manage your household expenses or combine incomes, but a shared account can also create confusion when one account holder owes money to creditors who have successfully sued and won a judgment against them. In these cases, the account holder is at risk of facing a bank levy, which freezes the funds in the accoun...