Bank Garnishment

[eli4192]

What is the name of your state (only U.S. law)? IN
My bank has been informed to garnish my account. How much can they take and how often? I have had my paycheck garnished before and it was a set amount each month, is bank garnishment different? The judgement was for $2200, can the bank just keep taking all my monies that are deposited in until the $2200 is reached or can they only take X amount each month? Right now they are holding the first deduction of about $400 which was all the money I had in the bank. I have spoken with my branch manager and he couldn't seem to come up with a answer.

[Wirelessany1]

Originally Posted by eli4192

What is the name of your state (only U.S. law)? IN
My bank has been informed to garnish my account. How much can they take and how often? I have had my paycheck garnished before and it was a set amount each month, is bank garnishment different? The judgement was for $2200, can the bank just keep taking all my monies that are deposited in until the $2200 is reached or can they only take X amount each month? Right now they are holding the first deduction of about $400 which was all the money I had in the bank. I have spoken with my branch manager and he couldn't seem to come up with a answer.

The whole account will be levied. This will also include the bank's fee for the levy, which can be hefty.

[eli4192]

How can they only take 25% of your pay when they garnish that, but can take all of your money in the bank? Exactly how are people suppose to live and pay bills? Also, how can they do it without notificiation? I might as well just close out the account...

[Wirelessany1]

Originally Posted by eli4192

How can they only take 25% of your pay when they garnish that, but can take all of your money in the bank? Exactly how are people suppose to live and pay bills? Also, how can they do it without notificiation? I might as well just close out the account...

Closing your account is an option. So is taking care of your judgement.

[CourtClerk]

How is the company you owe supposed to continue to do business if people like you don't pay their obligations? Yeah, that wasn't an issue for you, therefore emptying out your bank account isn't an issue for them.

If you close this account, they'll find the next one and empty that one. Then they'll garnish your wages and so on and so forth.

[eli4192]

First off, I don't owe the monies, the debt in question is over 7+ years old in the state of Indiana the SOL is 6 years. Second, I was never notified of the court hearing, thus I was not able to defend myself. Third, again my question if they can only take 25% from your pay check, why can they take all of your money from your banking account. Also, is it true the garnishment of the bank account is a one time thing and for another garnishment to happen more paper work has to happen, or can the bank continue to take monies that are deposited?

[eli4192]

Since it is viewed here to own up to your debt, shouldn't the banks own up to theirs and not be given BILLIONS of tax dollars to use at no risk to them? Shouldn't they have been forced to fail due to their bad use of money?

[CourtClerk]

Originally Posted by eli4192

First off, I don't owe the monies, the debt in question is over 7+ years old in the state of Indiana the SOL is 6 years.

That doesn't mean you don't owe the money. The SOL is an affirmative defense, it's only good if you assert it, which you didn't.

Second, I was never notified of the court hearing, thus I was not able to defend myself.

So why didn't you move to vacate the judgment based on lack of service, let them serve you again and get another judgment.

Third, again my question if they can only take 25% from your pay check, why can they take all of your money from your banking account.

Because the law says it can happen that way.

Also, is it true the garnishment of the bank account is a one time thing and for another garnishment to happen more paper work has to happen, or can the bank continue to take monies that are deposited?

They can keep taking the money

[CourtClerk]

Originally Posted by eli4192

Since it is viewed here to own up to your debt, shouldn't the banks own up to theirs and not be given BILLIONS of tax dollars to use at no risk to them? Shouldn't they have been forced to fail due to their bad use of money?

I'm sorry, did you sue the banks for the mismanagement of your money? If not, then you've gone way off on a tangent.

[Wirelessany1]

Originally Posted by eli4192

Since it is viewed here to own up to your debt, shouldn't the banks own up to theirs and not be given BILLIONS of tax dollars to use at no risk to them? Shouldn't they have been forced to fail due to their bad use of money?

Please don't compare yourself to a bank ~ You are not a bank. Had you been a bank the FDIC would have shut your doors down a long time ago. You are talking apples and oranges buddy...apples and oranges.

Buddy, if you have a judgement against you then you owe the money. SOL is a moot point now. You had the opportunity to raise that as a defense and you obviously did not.

Wage garnishments and bank levies are again apples and oranges. You cannot compare one with the other. Wage garnishments continue until the judgement is satisfied. If the judgement credit wants to levy your account again they will have to file a writ of execution all over again.

[eli4625]

Had I know of the court hearing I would have gone. I never got any thing from anybody. I am not sure why, I have gotten them in the past and gone and won. This time nothing, in fact I wouldn't have even known this time had it not been for me checking my bank account to see if my car payment had cleared..

I am planning on going to this "hearing" that is scheduled for the 2ndof July, I am just trying to find out what info I need.

Plus sorry, but the banks were not shut down they were given tax payers dollars so they could remain open, heck if the gov't had given me monies to repay the debt and low interest rates (unlike the rates on the cc) I to would have repaid them and repaid the loans.

[CourtClerk]

Originally Posted by eli4625

Had I know of the court hearing I would have gone. I never got any thing from anybody.

But NOW you know of a judgment.... so why haven't you AS OF YET, moved to vacate the judgment based on lack of service? I already know why.. but that's fine, you can continue to play victim if you'd like.

[eli4625]

I found out about the judgement at 9am yesterday (friday) when I called my bank. I then had to wait for them to call me back as to whom and why my money was being held. I then contacted the collection agency and then the court clerk. The info I have posted here is what I got from them. I then went to work. It is now Saturday, the CoC is not open on Sat. I spoke with my bank manager whom will have a copy of the paperwork they got for me on Tuesday. Since I have no law background, I was and am still not sure of what I can and can not do, that is why I am looking for some direction. In the previous 3 suits against me, I appeared and was involved in the process, this time, I was never notified. Why is it assumed all are lying when they post here? Did I owe the debt? Yes, but the collection company had 6 years to sue me for it and chose not to, now under the law they can not. All I am looking for is how do I procede?

[eli4625]

How do I move to vacate the judgement?

[Texas Pooh]

Did I owe the debt? Yes, but the collection company had 6 years to sue me for it and chose not to, now under the law they can not.

OP, the collection company did sue you, and got a judgment. Garnishments can not occur without a judgment. As explained, any possible issues with the SOL are not irrelevant.

Therefore, as suggested, you need to move to vacate the judgment - if there are grounds to do so. Typically (and I'm not familiar with IN) a judgment can only be vacated if there was a procedural error with the original judgment (for example, you didn't get served properly) and you have a defense to the original lawsuit (for example, you don't owe the debt). Finally, you must be within the time allowed for a motion to vacate.

You must go to the courthouse and get the file for the original lawsuit. If you have grounds to vacate, and you are within the time frame, you file your motion to vacate.

You may also have the ability to appeal the judgment, again if you have the proper legal or procedural grounds and are within the time frame.

You'll need to do some research or hire an attorney - these are not easy things to do.

You should also look at what exemptions may be available to to you with respect to a garnishment, and whether or not you can post a bond to stop the garnishment while further legal proceedings are underway. Otherwise, it is likely that collection efforts can continue while further legal actions are underway. Those collection efforts may include garnishing any other bank accounts you have or open.

Or, since you admit you owe this debt, you might consider simply contacting the creditor and negotiating a settlement, as you are considerably behind the eight ball on this one at this point. I suspect that the effort, money and time you put into trying to vacate the judgment/appeal would be better spent simply resolving the judgment. However, you are now aware of your legal options, and can make a choice.