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which is better...garnish wages or bank account?

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R

radrav98

Guest
What is the name of your state? COLORADO The debtor answered his interrogatories and now I know his bank, place of employment and he owns a house. He stated to the court, that he does not want his wages garnished, which is what I had planned to do. She suggested to go after his bank account. Is this really a good idea? What happens if he closes the account? Does the bank pay me in full and he makes payments to them, like a loan, or do I get paid as the money shows in the account? I work for the same company as he does. He also said he wants to make payments, but I do not trust him. Any advice is sooo welcomed! Thankyou!
 


JETX

Senior Member
The enforcement action you take is purely drivin by the specifics of the assets.

Wages: Usually gets steady payments (if he/she stays at that job), but is usually slow (few $ per week, month, etc.).
CO follows federal exemptions for wage garnishment, "Federal Law exempts from garnishment 75% of disposable earnings per week, or an amount = to 30 x federal minimum hourly wage, whichever is greater"

Bank: Usually one time hit. Amount depends ENTIRELY on balance in account. Usually gets debtors attention when his/her checks start bouncing. Since debtor told you location, has probably already moved account.

"What happens if he closes the account?"
*** You get nothing.

"Does the bank pay me in full and he makes payments to them, like a loan, or do I get paid as the money shows in the account?"
*** Neither, you get ONLY the money in the account at the time the bank gets notice of garnishment.... usually less fees of bank.

"I work for the same company as he does. He also said he wants to make payments, but I do not trust him."
*** Why not draw up a payment plan and have him sign it?? Tell him that you agree to NOT take any enforcement action (like wage garnishment) as long as he pays. The key here is to get your money with as little other 'issues' as possible.
 

Ladynred

Senior Member
JetX,

Sorry to butt in, but this thread raises a question for me. You answered that since the person revealed the location of the bank account that he has probably already moved the account. That brings up my question. Since the information was discovered via interrogatories, how often can these be done to locate assets - like the moved bank account ? Is there a limit to how often a debtor can interrogated ?
 

JETX

Senior Member
Most states provide some limit on the amount of questions that can be asked in each interrogatory and also the number of interrogatories that can be sent pre-trial. However, most (all?) of them do not limit the number of post-judgment interrogatories in order to enforce the judgment..... but the defendant (debtor) has the right to object to the court and claim abuse or harassment. And if the court agrees, they will step in and limit the numbers.
 
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