Bank Account Levy/Garnishment

Submitted by scb3849 on Thu, 04/22/2010 - 00:58
Forums

If you had your bank account garnished and you decided to open a new account with a new bank and add another person name to the account ... Can the creditor also garnish this account with another joint account holder on the account

Hi scb,

If the creditor comes to know about your new account, and even if it is a joint account, he can garnish that account. If you owe money to a creditor, and if the creditor wins a judgment to garnish your account, he definitely will. To avoid garnishment, you need to pay off the debt.

If you face difficulty in paying off the outstanding debt amount, you can try to negotiate a settlement with the creditor. Debt settlement lowers your outstanding debt amount by 40-60%.

Hope this helps.

Regards,

Aaron

Thu, 04/22/2010 - 07:54 Permalink