4 posts in this topic

Does a creditor, through the Law firm, have the legal right to freeze your account and take 100% of what you owe thereby leaving you with a negative balance if they have a Writ of Garnishment?  Isn't that like a shell game whereby one creditor gets paid and another creditor is owed?

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Did they garnish your wages or your bank account? If your wages they can take a maximum of 25% under federal law, subject to exemptions. If they garnished your bank account they can take an amount equal to the judgement, costs of garnishment and interest subject to more limited exemptions. As far as creditors are concerned, first come first served. Bankruptcy, if it is feasible and your are eligible is an option.

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1 hour ago, NiceGuysFinishLast said:

Does a creditor, through the Law firm, have the legal right to freeze your account and take 100% of what you owe thereby leaving you with a negative balance if they have a Writ of Garnishment?

 

That does seem to indicate that it was your bank account that was garnished. So, yes, if the entire balance covered the debt or was less than the debt, then the entire balance is taken and sent to the creditor. If you have checks coming in after that they bounce and the NSF charges give you a negative balance not to mention any legal consequences for bouncing checks.

 

1 hour ago, NiceGuysFinishLast said:

 Isn't that like a shell game whereby one creditor gets paid and another creditor is owed?

 

No.

 

 

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2 hours ago, NiceGuysFinishLast said:

Does a creditor, through the Law firm, have the legal right to freeze your account and take 100% of what you owe thereby leaving you with a negative balance if they have a Writ of Garnishment?

 

What sort of "account" are you talking about?  If you're talking about a bank account, the creditor cannot take more than the account balance at the time of service of the garnishment but is entitled to the lesser of the amount of the judgment (plus whatever costs are stated on the garnishment) or 100% of the account balance.

 

 

2 hours ago, NiceGuysFinishLast said:

Isn't that like a shell game whereby one creditor gets paid and another creditor is owed?

 

Doesn't sound at all like a shell game to me.

 

By the way, the subject header of your post refers to wage garnishment, but your actual post doesn't mention that at all.

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