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Subject: Bank took my money, advice needed please!
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Tue Sep 22, 2009 11:34 pm
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| My mom has over $100,000 in debt and today I checked my bank account only to find that all of my money, including the $6,000 I had just deposited from my student loan, is gone! Her name is on my bank account because she helped me open it a few years ago (I was still a minor). Called my mom and found out they took my sister's money too. Is this legal? The check was in MY name, and that's MY money and I still need to pay my tuition. Help! |
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sunnyca
Joined: 10 Sep 2009
sunnyca's page
Posts: 150
950 Magic Points
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Wed Sep 23, 2009 5:18 am
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| Well if the you owe the same bank and your checkign or savings accoutn is in the same bank then they can take the money and not diffcult for them to fight it in the court |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Wed Sep 23, 2009 9:20 am
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Hi Guest,
This is an instance of bank account garnishment. This happens when you fail to pay for your debts on time. However, the creditor can garnish your accounts only after it gets a judgment against you in court. Do you have a judgment? Even after judgment, the creditor cannot garnish any asset immediately. He must send you a notice regarding the garnishment. If you have not received any such intimation, then you have the right to vacate the judgment and state the court that you did not receive any intimation on garnishment.
Anyhow, I would suggest you to contact a lawyer in this regard.
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All the Best 
Justin |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1308
28489 Magic Points
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Wed Sep 23, 2009 12:45 pm
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Hi Guest
This is a truly difficult situation I understand. However, what you can do is ask the court about any exemptions to garnishment. Check the 'writ of garnishment' and see whose name is mentioned there. If it is your mother's alone you may get back your share of the money once you prove that share of money to be yours. I would suggest you get professional help. Are you in touch with your mom? Ask her to take control and get you back your money.
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Keep in touch
Carol |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: bank account
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Tue Sep 29, 2009 10:32 am
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| OP...you said your mom helped you open this bank account. But...is her name on the account, as well? Have you talked to you bank to let them know the situation? But...yes..if the loans are NOT in your name, at all,..then I'm sure you can fight to get your money back. You may want to open ANOTHER account (if you can) JUST in your name. |
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Jack
Joined: 26 Oct 2009
Jack's page
Posts: 2
62 Magic Points
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Mon Oct 26, 2009 7:54 pm
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When more than one person is "signed on a checking account", there is a record of their social security number in the bank files. If a husband owes a debt and has a judgment againist him and the creditor garnishes the bank account, they can only take 50% of the money(husbands share) and not the wife or whomever else is on the account. The judgment is against the husband; not the wife; she is an "innocent third party" to this action and the creditor does not have a right to her share. Sue the bank that allowed this. Ask the "operation manager" of the bank why she or he allowed this and tell them that you're going to take action agaiinst them
Jack |
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warghade
Joined: 14 Jul 2009
warghade's page
Posts: 38
677 Magic Points
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Wed Nov 18, 2009 12:18 pm
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| I thing you should met lowyr. He can be sujjest some good way. This condition is very difficult condition. |
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