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    Darrin_s's Avatar
    Darrin_s Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 13, 2008, 07:28 AM
    Can a Bank Account be garnished without court order
    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's Avatar
    CakeLady Posts: 52, Reputation: 6
    Junior Member
    		  
    #2

    May 13, 2008, 08:02 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
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    May 13, 2008, 08:09 AM
    You account wasn't garnished! A garnishment does require a court order. However, if you read the fine print of your loan document, it probably does give them the right to recover delinquent amounts by debiting your accounts. This would only work with accounts at the same institution.
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