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Home > Law > Corporate Law   »   Bank funds garnished

 
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Old Nov 29, 2006, 01:32 PM
FILEEGRL
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Bank funds garnished

I just learned that my accounts have been garnished because of a student loan issued by the school not PHEAA has not been paid. How do i get them to remove the levy? do i make a payment arrangement and the accounts are unfrozen? How does this work????

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Old Nov 29, 2006, 02:38 PM   #2  
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Do not add any more funds to the account, they will be taken. Call the creditor and make arrangments to pay yourself.
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Old Nov 30, 2006, 11:18 AM   #3  
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Quote:
Originally Posted by FILEEGRL
I just learned that my accounts have been garnished because of a student loan issued by the school not PHEAA has not been paid. How do i get them to remove the levy? do i make a payment arrangement and the accounts are unfrozen? How does this work????
I have called the lawyer and am trying to make arrangements. i have direct deposit on this account. Is is true that the creditor must make a request of the court each time they remove the funds? That is what the bank told me. I get paid tomorrow and they have already cleaned me dry. I supose I need to get to the money before they do. I have every intention of paying to get these people off of my back but to take it all without warning was harsh.

On another note. what is your opinion on this situation:
It was my last semester of school and the money from financial aid and other loan sources were returned to the lenders by the school. Once the funds were returned the policy was that the institution could not return them because the semester was already in progress or had passed. I was forced to take a loan from the school and I will say under duress because I wanted to graduate. Now I am stuck with this mess here because I did not pay. Sounds shady to me.... could be a class action suite because I know I am not the only person that this has happened to. help!!!
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Old Nov 30, 2006, 11:29 AM   #4  
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NO, once they garnish an account they will take any funds deposited into them until the debt is paid.

STOP YOUR DIRECT DEPOSIT NOW.
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Old Nov 30, 2006, 11:58 AM   #5  
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NO, once they have got a court order to attach that account any money in it, will go to them and any money you put in will go to them.

Stop your direct deposit NOW, or the money goes in, and they get it.

And what is shady about you taking out and loan and not paying, you should have been making payments long ago, or you should have went to court to get the bill dismissed. Doing nothing is never a good option on most bills.
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Old Nov 30, 2006, 12:14 PM   #6  
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Thank you for your response. I agree I should have made the payments a long time ago and I would not be going through this mess. i just felt that the agreement was made under duress and at that time all I wanted to do was graduate. I am fortunate enough to be able to get out of this mess in a timely manner and it is a lesson well learned.
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