Notice of Levy

[mike006]

What is the name of your state? Missouri.

In 2001 I enrolled into one of those technical schools that really didn't deliver what they promised. Anyway, I attended classes for about a year hoping it will get better, but unfortunately it never did. I ended up quiting after about 7 months, but continued paying the loan for another year. After that life happened ( loss of income etc. ), and I stopped paying my monthly installments.

So, now I was served with Notice of Levy. I was hoping I could get some explanation to what should I do.

Here is what it says in the letter I received:

You are hereby notified that I, the undersigned Sheriff of the County, have been ordered to attach all goods, personal property, money, credits, bonds, bills, notes, checks, choses in action, or other effects of ( my name here ) which are in possession or charge or come under the possession or control of US BANK in order to satisfy the total amount of the garnishmet above.

I don't bank with US BANK anymore, but are they trying to freeze my account, and if yes are they going to be able to find where I bank right now and freeze that account?

Also, what else could they do here? I have a car, which I am still paying off, could they take it or any other personal belongings of mine and hold it until I pay off the debt I owe them?

By their records I still owe them roughly another 5K, including attorney fees. I guess they gave me until March, 10 to come up with the money before they execute this order, is there any way I could ask for some more time 2-4 weeks, at the most!?

Thank you for any response.
What is the name of your state? Missour.

 

[Chien]

mike - There are some omissions in the post. Please fill them in or deal directly with the attorneys for the creditor.

Bank accounts aren’t levied for a technical school loan without a civil judgment, unless the loan was government-subsidized. Who is the lender/creditor? Who were you paying?

If it is not a government loan, were you served with a Complaint and was a judgment taken, to your knowledge?

are they trying to freeze my account

Yes.

if yes are they going to be able to find where I bank right now and freeze that account?

We can’t be certain but probably with relative ease. They can also find out anything in US Bank’s old records.

Also, what else could they do here?

Anything that your state law allows, which includes taking the car and other personal property, if they found that it could be cost-justified. And they won’t keep it; they’ll sell it and apply the proceeds to the amount owed.

is there any way I could ask for some more time 2-4 weeks, at the most!?

It depends on the reason. You can always ask. If it’s to pay them the $5K, probably yes. If it’s something else, probably no. You’ll have to justify the request to *them*.