Notice of Levy

[dbouchard]

What is the name of your state? Missouri.

I honestly feel like i've told my story to a hundred different people without getting any "real" help. But here it goes:

Last year I was sued by Captial One over a credit card balance of about $1800. I was served papers by the sheriff and planned on showing up in court. Well, I was having contractions on the day (but she didn't really show her face until 6/3) I was to arrive in court, so needless to say I didn't show up. I knew that the court date was close to my due date so I called the courthouse to see what to do (a month prior to the day I was suppose to be there). The person I spoke with said I needed to contact the lawyer that was representing the company who was sueing me, so I did and they said well too bad that is'nt a reason not to show up in court. A default judgment was filed against me, but I really didn't think about it too much since I had other matters at hand (having a new baby). Well this default judgment took place last year on 5/27/05. 2 days ago I received a letter from the sheriff of st.louis that said NOTICE OF EXEMPTION, I still don't really know what it means because of the way it is written. Then, today I received a NOTICE OF LEVY and sort of understand what it means, but don't know how to respond to it. It does state returnable on April 8, 2006, so I guess that means that I'm suppose to send them something. I'm afraid of having a lien against my property. I am a college student with no job, so I called the collection agents who sued me today to find out about a payment plan. First, I asked how a 1800 balance went to 4400 and he said he does not have to prove to me where the balance came from, but that I am being charged 25.9 percent interest daily on the balance. At this rate I will never be able to pay this off (I HAVE NO JOB). The funny thing was when I mentioned that I wanted to set up a payment plan he didn't push the issue, in fact, he never even agreed to a payment plan (probably because they know they could make a killing on the amount when it is actually paid). I don't know what to do. I don't know how to respond to this paperwork and I cannot afford a lawyer. Plus, I'm worried that they will try and garnish monies from my fiance's account because I am listed on it. Even though the only money that goes into the account comes as a direct deposit from his employer. If someone could help me I would greatly appreciate it. What I mainly need to know is: 1. Can they take his money because i'm listed on the account?(I think it's a joint account) 2. How do I respond to these papers? 3. What exactly is a notice of levy? 4. How long can they put a lien against my property?. 4. How come when I asked them to at least validate the debt they said they didn't have to and wouldn't?? HELP ME PLEASE!!!!!


Oh and another thing I found interesting was that when I called the collection agency they said my last payment to Capital One was 3/04. But I know for a fact I never made any payments to Capital One since summer of 03.

[Litigation!]

Originally Posted by dbouchard

What is the name of your state? Missouri.

I honestly feel like i've told my story to a hundred different people without getting any "real" help. But here it goes:

Last year I was sued by Captial One over a credit card balance of about $1800. I was served papers by the sheriff and planned on showing up in court. Well, I was having contractions on the day (but she didn't really show her face until 6/3) I was to arrive in court, so needless to say I didn't show up. I knew that the court date was close to my due date so I called the courthouse to see what to do (a month prior to the day I was suppose to be there). The person I spoke with said I needed to contact the lawyer that was representing the company who was sueing me, so I did and they said well too bad that is'nt a reason not to show up in court. A default judgment was filed against me, but I really didn't think about it too much since I had other matters at hand (having a new baby). Well this default judgment took place last year on 5/27/05. 2 days ago I received a letter from the sheriff of st.louis that said NOTICE OF EXEMPTION, I still don't really know what it means because of the way it is written. Then, today I received a NOTICE OF LEVY and sort of understand what it means, but don't know how to respond to it. It does state returnable on April 8, 2006, so I guess that means that I'm suppose to send them something. I'm afraid of having a lien against my property. I am a college student with no job, so I called the collection agents who sued me today to find out about a payment plan. First, I asked how a 1800 balance went to 4400 and he said he does not have to prove to me where the balance came from, but that I am being charged 25.9 percent interest daily on the balance. At this rate I will never be able to pay this off (I HAVE NO JOB). The funny thing was when I mentioned that I wanted to set up a payment plan he didn't push the issue, in fact, he never even agreed to a payment plan (probably because they know they could make a killing on the amount when it is actually paid). I don't know what to do. I don't know how to respond to this paperwork and I cannot afford a lawyer. Plus, I'm worried that they will try and garnish monies from my fiance's account because I am listed on it. Even though the only money that goes into the account comes as a direct deposit from his employer. If someone could help me I would greatly appreciate it. What I mainly need to know is: 1. Can they take his money because i'm listed on the account?(I think it's a joint account) 2. How do I respond to these papers? 3. What exactly is a notice of levy? 4. How long can they put a lien against my property?. 4. How come when I asked them to at least validate the debt they said they didn't have to and wouldn't?? HELP ME PLEASE!!!!!


Oh and another thing I found interesting was that when I called the collection agency they said my last payment to Capital One was 3/04. But I know for a fact I never made any payments to Capital One since summer of 03.

My response:

It's too late to do anything. You could have had the Default "set aside," but you waited too long.

Simply, you're out of luck.

IAAL

[dbouchard]

So, filing bankruptcy won't even stop it??

[Litigation!]

Originally Posted by dbouchard

So, filing bankruptcy won't even stop it??

My response:

Bankruptcy isn't going to help you. First, the laws have changed in that regard. Second, and more important to you, is that all of your assets will be sold off and the money used to pay your creditors. You can't merely file BK and hope to keep everything you currently own. That's not how BK works.

IAAL

[punkin]

myfirst call would be to my states Dept of Consumer Affairs to see if they can help interpret some of your legal questions .... and if they cant... posssibly they can tell you who can..like possibly your state has a agency such as Legal Aid,that you can use,attorney fees are based on your ability to pay..i dont know if your state has an agency such as this but it sure cant hurt to ask now can it ? does your state have SHARE agency ? just a few suggestions...i pray that you find someone to help you...keep posting to let me know what happens ......

[dbouchard]

Thanks punkin I will......Can anyone answer any of the questions that I have listed?

[Chien]

If you're on a joint account with your boyfriend, that account is vulnerable, regardless of whether he is the source of all deposits. Lets get that out of the way upfront.

The rest of the post is a bit strange and difficult, because states use different terms for the same legal procedures. The process whereby funds in a bank account are seized may be called a levy in one state and a garnishment in another. The process whereby wages are taken may be called a wage garnishment one place and a wage attachment in another.

If bank funds are seized or there is an attempt to take wages or seize other kinds of property (which is one more way to enforce a judgment), every state permits exemptions to be claimed. Exemptions are either types of property that can't be taken or are limitations on the value of property, even if it can be taken. As examples of the former, a states may say the "tools of the trade" are exempt, meaning a creditor can't seize the implements used to make a living. As an example of the latter, a state may say that you can exempt the first $3,000 in equity in your personal vehicle (and a creditor can seize and sell the car and keep anything over that), but a creditor can't touch a vehicle used in a business or trade (so a truck used to make a living couldn't be touched).

There are also exemptions relating to the taking of wages but, since you're not working, let's not dwell on those.

If a creditor tries to take money or property that is exempt, it's your responsibility to claim any exemptions to which your entitled. You do this by filing a claim of exemption with the court, and the court then decides if a creditor's rights should be narrowed in some way. This is what is called an "affirmative obligation" of yours. If you fail to claim your rightful exemptions, the creditor can get and keep property, despite it being legally exempt.

Coming back to your original post, it's hard to say with certainty what the purpose is of a Notice of Levy with a return date. I would guess that the two documents combined are to alert you to the fact that a judgment creditor is taking property and to alert you to your right to claim exemptions. But, because circumstances change, there is never any deadline for asserting exemptions. That is to say that, if a creditor takes exempt property and you don't assert your rights, the property will be lost to you. But, if the creditor tries to do the same thing to the same type of property 6 months later, you can still assert an exemption and protect it. Failure to claim an exemption once does not mean that you waive it forever.

If that gives you a bit more understanding about the process, you might want to call the court or the sheriff or whoever sent the paperwork and ask about the levy return date. The court and the sheriff are also likely to be able to provide a list of exemptions.

[dbouchard]

I will do that right away!!! Thanks so much for the info!! I really appreciate that