How do they attach bank account for cc debt?

[Dolly1948]

I live in Ohio.
Everybody's advise so far has helped me greatly--THANKS! But now that I know they can go after our joint checking accout, how do they do it? Do they tell me first? The bank? This joint account is basically used to pay household bills and buy groceries. And since it's my cc debt, not my husbands and I have no assets except this joint acct., do they only take half or what? Seems unfair to husband money.

 

[stevek3]

I live in Ohio.
Everybody's advise so far has helped me greatly--THANKS! But now that I know they can go after our joint checking accout, how do they do it? Do they tell me first? The bank? This joint account is basically used to pay household bills and buy groceries. And since it's my cc debt, not my husbands and I have no assets except this joint acct., do they only take half or what? Seems unfair to husband money.

No warning. The entire account balance in all savings and checking accounts will be mailed to the court by the bank. You have the right to request an exemption hearing. For the sake of discussion, let's say your account was frozen by the bank today. You subsequently request an exemption hearing. At the hearing, all money in your accounts is determined to be exempt. By the time your money is released by the clerk of courts and mailed back to you, it will be approximately four weeks from today. Maybe a little more, maybe a little less. For that entire period, you will not have access to the money.

 

[ihatearizona]

There are only 2 ways that a CC company could gain access to your bank account legally. The first would be if your bank has a relationship with the CC company (ex: Wells Fargo Credit card & Wells Fargo Checking Acct). This would be their use of the right of set off. You would receive 0 warning and all funds would be gone without them even having to go to court.

The second is if the CC company has obtained a judgment against you or your spouse. Once the judgment is obtained then they have the legal right to empty your bank account without warning.

 

[jaimelopez]

Sorry to hijack the thread but can they overdraw the bank account if there is nothing in it to satisfy a judgement?

 

[Veronica1228]

Sorry to hijack the thread but can they overdraw the bank account if there is nothing in it to satisfy a judgement?

The garnishment/levy does not "debit" your account. The bank does. Therefore, if there are $0 funds in the account, no debit would be made. If it was, it would basically be coming out of the bank's pocket, and they would not want to pay your judgement for you.

The judgement is a legal award given by the courts to the creditor that allows them to instruct a F.I. to seize funds from one of their customer's account. If there are no funds, there is nothing to seize. You can't get blood from a stone.

 

[stevek3]

The garnishment/levy does not "debit" your account. The bank does. Therefore, if there are $0 funds in the account, no debit would be made. If it was, it would basically be coming out of the bank's pocket, and they would not want to pay your judgement for you.

The judgement is a legal award given by the courts to the creditor that allows them to instruct a F.I. to seize funds from one of their customer's account. If there are no funds, there is nothing to seize. You can't get blood from a stone.

Actually, they can make that stone bleed, even if it's only a surface wound. Many Ohio banks charge the customer's account a fee for processing a garnishment order. Some banks charge as much as a ridiculously high $75. So, even if there is absolutely no money in the account, the debtor could still end up owing their own bank $75.

 

[You Are Guilty]

$100 fees are common in NYC.

 

[Veronica1228]

Actually, they can make that stone bleed, even if it's only a surface wound. Many Ohio banks charge the customer's account a fee for processing a garnishment order. Some banks charge as much as a ridiculously high $75. So, even if there is absolutely no money in the account, the debtor could still end up owing their own bank $75.

Wow! Someone call Guiness. We actually agree on this point. The bank where I works also charges a $75 legal fee in most markets. However, I want to specify that this money goes to the bank as a fee. It does NOT go the entity that received the judgement award.