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rav
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Subject: CYO
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Wed Jan 06, 2010 2:58 pm
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I know it is a must to have a checking account, and Visa, MC logo on a debit card.
If you are in financial trouble, and are being sued by creditors, you must keep your own boat from sinking.
We filed Bankruptcy, and are afforded protection, but that did not stop American Express from garnishing our checking account. They did have to dissolve the garnishment, but that took 10 days, that is ten days of not being able to pay your bills, and not having access to your debit card.
If you are in trouble with creditors I can tell you what we have done:
1. Realize how many attorneys are advertising on television to sue. They are broke as well, and have access to our legal system. YOU AS A NON-ATTORNEY, AND BROKE CITIZEN DO NOT HAVE THIS ACCESS!
2. Go to your local clerk of courts, and insure that garnishments do not include basic living expenses. Judges will do this. You only have to appear, and don’t need a lawyer. If you are this broke, you can’t afford one anyway.
3. Do not trust commercial banks. Close accounts at Wells, Wachovia, Chase, and the others.
a. These banks have their different division of labor located in different states. The legal departments may be farmed out to local attorneys.
b. Broke and poor folks do NOT want to deal with this.
4. Open a small account at a local credit union, and keep only the minimum in that account.
5. Remember how poor you are. You are an easy mark to credit attorneys, and they will slaughter you like an animal.
6. These are tough times.
a. Stop listening to others, and trust your own animal instincts.
b. You are poor and are not afforded the same access to the systems as others.
c. It’s not fair but it is true.
d. Good luck, and CYOA. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Wed Jan 06, 2010 6:11 pm
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| wow what a strong post but all so true, I totally agree, I am not real sure how these companies can just go in and raid your checking account and how the heck did they get the account number in the first place. That boggles my mind how they have access to this information. You would think the banks would contact you if an unfamiliar entity was trying to take funds out of your account right. But too many times they don't until it is too late. There should be a way for them to have to verify authorization before they can access your accounts. |
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NORMA
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Subject: FEDERAL TAXES
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Mon Jan 25, 2010 4:19 pm
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| IF YOU HAVE JUDGMENTS AGAINST YOU WITH BANKS CAN THEY KEEP YOUR FEDERAL REFUND |
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KB
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Subject: GARNISHMENT
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Tue Feb 09, 2010 10:41 pm
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| A COMPANY GARNISHED MY CHECKING ACCOUNT LAST WEEK AND I JUST GOT A LETTER TODAY SAYING THEY WERE GOING TO DO SO. THEY TOOK ALL MY MONEY WITHOUT LETING ME KNOW, THE COURT DATE ISN'T UNTIL MARCH. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: garnishmnet
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Thu Feb 11, 2010 7:16 am
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Hi KB,
As far as I understand from your post, the court date is in March. That means that the company has not yet got a judgment against you, right? A company cannot garnish your account, without a court order.
Therefore, you can report this in the court on the day of the court order. You may also contact a lawyer regarding this.
_________________
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shocked
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Subject: CONCERENED
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Wed Feb 24, 2010 1:38 am
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| I have had my back checking and my sons savings account frozen due to credit debt. Five years have passed is it safe to open another account at a different bank? I do not work I am a full- time student. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: account frozen
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Thu Feb 25, 2010 10:26 am
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Hi shocked,
If only you and your son had recurred the debt together, can both of your accounts be frozen. What you can do is, pull your credit report and check the status of this account. As 5 years have passed, the negative impact of the negative item has lessened. You can open a new account with a new bank, but the bank that froze your account should not come to know about your new account.
However, whether or not your new account will get frozen depends on your debt. If you still owe any money to the bank, they may try to find out your other accounts and freeze it by court order. If possible, you can try to pay off the debt.
You can open a savings account and put money into it for months. After you save a considerable amount of money into it, you can use it to pay off this debt and other debts too. This also helps in improvement of the credit score.
Hope this helps.
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Charlotte
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Subject: judgments and monies taken from checking account where only
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Mon Mar 15, 2010 5:09 pm
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| I am retired and have been unable to get a job. I have accumulated a lot of credit card debt and cannot pay it. My only income is Social Security and this enables me to pay my mortgage and car payment and pay my other essential bills (such as water, electricity, food). Can the credit card companies/collection agencies go into my checking account and take my Social Security money. What remedies do you suggest to prevent this. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: garnishment judgment
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Tue Mar 16, 2010 9:17 am
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Hi Charlotte,
Under the Federal Law, social security cannot be garnished. However, it may vary according to the state laws. Thus, you can check your state laws on garnishment. Generally speaking, if you can prove that all your money comes from social security, they may not be able to garnish your account.
Hope this helps.
Regards,
Aaron
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Sandy Starmer
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Subject: sued by American Express
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Tue Mar 23, 2010 5:55 am
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| My husband and I were sued today by American Express, we tried to work with them but nothing. We went with the debt answer and pay 446.61 every mouth and they work with the creditors. A/E would not. They won, if they garnish my husbands wage is the 25% after taxes? All of our monies go into one bank account ss, child support wages do I need to close our accounts now? Does A/E have to notify us after going threw the court to get a wage assignment and levee against our account? Please help |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: garnishment
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Tue Mar 23, 2010 6:43 am
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Hi Sandy,
How much they can garnish depends on the state laws on garnishment and how much you owe and the interest rates. So, you need to check your state laws. Social security benefit cannot be garnished. However, you can open a new account and deposit the social security into it. For that account you need to prove that your money comes from social security only. Then the collection agency may not be able to garnish that account. In some states child support payment cannot be garnished too. Thus, you need to check this to according to your state laws.
As the collection agency has already won the judgment, they may not serve you any notice before starting the garnishments.
Hope this helps.
Regards,
Aaron
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Jenn
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Subject: Taking money from a joint checking account
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Wed Apr 21, 2010 6:45 pm
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| Can a creditor take money out of an account that I am not a primary accout holder on? It is a joint checking account. My husband is employed by the govt. and I am currently unemployed due to his military pcs. We have 3 kids and we are barely making it because we still have to pay our other bills. My husband, being in the military, has to pay his bills or he can get into some serious trouble. So unfortunately for me, his bills come first. These debts are not in his name. They are in mine. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: joint checking account garnished
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Thu Apr 22, 2010 12:28 pm
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Hi Jenn,
Yes, a creditor can take out money from a joint account even if you are not the primary account holder. As you owe the debt, and your name is on the account, they will take money from that account. Thus, you need to remove your name from that joint account.
Thanks,
Aaron
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Ana
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Subject: garnishment for student loan
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Tue May 04, 2010 12:22 pm
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| how much can a student loan garnishment take from your bank account if your only income is monthly social security check |
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Jason4525
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Subject: Garnishment & levy
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Sat May 15, 2010 9:01 am
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There is a temporary solution for future bank levies.
A judgment has to be entered against you in your name in court, in order for another party to get into your bank account (the exception is the IRS, they can do what they want without anyone's permission!)
The account being levied has to be in the name or jointly in the name that is on the judgment. But get this--apparently they can't levy the bank account of yours if it is in a business name (even with the same SS#). So if the judgment is against "Jim Jones" they apparently can't get into an account that Jim owns under Ready Roofing Company.
My wife & I had a creditor wipe out our bank account a few months ago. Once we learned of this we closed the accounts in our name but left my business accounts open. The creditor even told me they could not legally act against the business account because the judgment isn't against the business. I asked an attorney about this & he agreed. He said he couldn't 100% guarantee it, but that the sheriff would likely never approve a bank levy if the name on the account was different than the name on the judgment.
This is really good news.
So, I'm not suggesting you run out & start a small business & get a new bank account in a business name, but it apparently does afford some protection against these things. You should ask an attorney & do some checking around in YOUR OWN STATE to see what the laws are about these things, but for now it appears to be working for me in my home state. This buys me time to regroup & eventually pay these people off on my terms, not theirs through surprise levys. |
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