Ask Experts Questions for FREE Help !
Ask
    FURRETZ's Avatar
    FURRETZ Posts: 8, Reputation: 0
    New Member
     
    #1

    Feb 4, 2008, 12:15 PM
    Bank levy & wage garnishment from a judgement
    :confused: So it seems that a credit card debt from 1999 in the amount of $1800 caught up with me , now in the amount of $6000!! How can this happen? Once the bank account has been levied & the wage garnishment starts, do they release my money in the bank account though the creditor? Do I get notification or a receipt for this amount? Once this happens, can I use the same bank account or do I need to close the current account down and start a new one? Cen they levy a new bank account once they begin to garnish my wages? Can this amount be negotiated & paid off one the garnishment of wages is in place? I live in New Jersey if this helps any...
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Feb 4, 2008, 12:55 PM
    How the amount mushroomed is due to interest and attorney fees.

    Once they obtain a judgement against you they can attach your bank accoutns and garnish your salary until the debt is paid.

    You can try to negotitate, but they have no oncentive to do so.
    FURRETZ's Avatar
    FURRETZ Posts: 8, Reputation: 0
    New Member
     
    #3

    Feb 12, 2008, 03:13 PM
    Scott,
    Your reply has been helpful... brutally honest actually...
    Can they continue to hit my bank account & keep putting a levy on the account once a wage garnishment is in place?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Feb 12, 2008, 06:50 PM
    Yes, They can use any means legally available to collect what you owe.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #5

    Feb 15, 2008, 02:08 PM
    Quote Originally Posted by FURRETZ
    :confused: So it seems that a credit card debt from 1999 in the amount of $1800 caught up with me , now in the amount of $6000!!! How can this happen? Once the bank account has been levied & the wage garnishment starts, do they release my money in the bank account tho the creditor? Do i get notification or a receipt for this amount? Once this happens, can i use the same bank account or do I need to close the current account down and start a new one? Cen they levy a new bank account once they begin to garnish my wages? Can this amount be negotiated & paid off one the garnishment of wages is in place? i live in New Jersey if this helps any...
    Same question, posted twice, different threads - over a period of a few days.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Garnishment Update & Here we go again, bank levy this time [ 4 Answers ]

Hey all. First thanks for your help and advice on my last post, things just seem to look good, then wham, the bottom falls out. Our 1st court date was postponed as Peoples Bank could not produce documents for the judge showing we owed or had the account. That's because there are none as we've...

SSDI and Bank Levy, Garnishment, etc [ 3 Answers ]

I have read all about the Social Security being "untouchable" by levy or garnishment. I have heard that when the money comes from Social Security and hits your bank account it is "fair game" It is considered income. My questions are many and I am really worried that the CC co. will take action. ...

NJ Judgement & Wage Garnishment [ 1 Answers ]

Hello, I recently lost a court case and the judgement is for $15K. What is the max amount they can garnish my wages for? What if I try to make payments with the debtor and they do not accept them. What is a reasonable payment amount for $15k? THANK YOU! :eek:


View more questions Search