Can a Bank Account be garnished without court order

Darrin_s · #1 May 13, 2008, 06:28 AM

I live in Tn. My business account was garnished by the same bank for a loan payment due on a loan. The loan I had was from another business venture with 4 other persons. Can they do this without a court order.

CakeLady · May 13, 2008, 07:02 AM

Of course they can. You signed that part of the agreement with the bank when you signed for the loan.

They loaned you money, you haven't paid, they have a right to get their money back.

Now if they were garnishing your PAYCHECK---then they would need a court order, because the PAYCHECK comes from a different source. But anything that comes from their financial institution is theirs first. Get it?

I'm in TN too.

Cake Lady



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