Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 472,096 members


Debt Consolidation Forums Banking and Chexsystems

Please help!!!!! Urgent question about bank levy and lawsuits



greenman2

Posts: 0
Credits: 384.85
[Donate]
Sub: Please help!!!!! Urgent question about bank levy and lawsuits
Fri, 13/05/2011 13:29

Got home from work and noticed that there was from what I've been reading a bank levy on my account, no warning no nothing, the money was just gone, according to the bank the levy was for $1140.10, and they got $159.84, this information along with the lawyers name and tn# is all we have, nothing else, now we did move back in oct of 2008 to another city, but I thought that, if someone sue me they would have to put a legal notice in the newspaper of the last known address? by the way I live in alabama, We could really use any and all help



Article Rating: 
Unregistered

Sub: #1 Things you should know...Fri, 12/14/2012 - 19:04



If your account is levied, it means someone has one a court judgment against you. The levy authorizes them to contact your banks legal department and do a "discovery of funds". Basically the legal department checks your ENTIRE bank portfolio and can debut every account to satisfy the levy. EVERY account the legal department checks can be charged a "legal levy fee" ($100 or more or less depending on the bank.) This is the bank's legal service fee. This can happen weekly or monthly and you will be charged the "service fee" EVERY time they touch the account even if there is NO money in the account.



Unregistered

Sub: #2 I got my bank account levied a few years ago due to an outstandiFri, 05/13/2011 - 13:29



I got my bank account levied a few years ago due to an outstanding credit card debt I owed. In turn the bank account was closed after the levy, or so I though. Fast forward to today I get a new debit card in the bank w/ a balance. The balance is the same amount that was levied a few years ago. Is it normal for a creditor/lawyer to give the money back even if I did not fight the levy?


OhioGal1
OhioGal1


Debt Samaritan
Posts: 5216
Credits: 76150.346477606

Sub: #3 The levy will remain on the account until it is paid or overturnTue, 04/26/2011 - 09:29



The levy will remain on the account until it is paid or overturned. If the levy overdrew the account, you will need to restore it to a positive balance in order for the levy to be paid.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.


Unregistered

Sub: #4 Bank LeviesTue, 04/26/2011 - 08:22



Once a levy has been placed on a bank account, what happens if we deposit additional monies to take care of the bank fees that have been accumulated?


Unregistered

Sub: #5 Do not try the debt settlements companies - it does not work! (Fri, 12/03/2010 - 12:57



Do not try the debt settlements companies - it does not work! (personal experience)

As for the bank levy. I just got the same surprise today. I'm in the process of gathering everything needed to file bankruptcy and was hoping I'd be done before anything like that happens but apparently I took too long.

In any case, I asked my lawyer if there is anything that can be done - this is his exact answer:
"Yes, you have an exception of upto $1000. Write a letter to the judge on the matter and appear at hearing. Otherwise if we file beforehand before levy takes effectiveness, we'll get it released."

So that is what I'm working on now - I need to write a letter to the judge explaining how I can't afford to lose my thousand bucks and send it asap before the money is released to the creditor.

And yes, my creditor has a judgment against me and no, they gave absolutely no warning that they wanted to levy my account. It does make sense though - if they told me, I would've emptied it and closed it right away.;)

So if you're in this situation - act fast, write a letter to the judge of the court that is overseeing it (if you don't know, call the bank - I called, they gave me a number to the court that authorized the levy). You might want to check up what the levy exception is in your state. In NJ it's $1000.

And to all of you reading that got a judgment against you - close your bank account and switch to non-electronic billing so that they can't get you like this...:( I wish I had.

Good luck everyone.


Unregistered

Sub: #6 So what is the money they took is exempt? i even have the codes Tue, 10/19/2010 - 13:23



So what is the money they took is exempt? i even have the codes and sections for the money they took.


Unregistered

Sub: #7 I am on a joint account with my fiance,and the took all his monSun, 08/08/2010 - 10:42



I am on a joint account with my fiance,and the took all his money and mine.Is there a way i can get mine back? He oit levied for child support and the money of mine in the account was child support paid to me.So the took my child support money to pay his child support.


SC
SC

Posts: 3616
Credits: 36272.4

Sub: #8 Well, there is very little that can be done now as they have alrWed, 04/28/2010 - 21:13



Well, there is very little that can be done now as they have already taken the money from your account.

Since you have mentioned that you were making payments to the creditor's lawyers for this debt hence, I presume that there was a contract drawn between you and the law firm, which you have breached by stopping your pays. Hence, a judgment has been issued by the court in favor of the plaintiff's lawyer.

However, some options may still be available to you- if you're not served properly or you have income that is exempted. You may wish to consult a lawyer. But before that, call up the attorney's office and try to work out a deal.


Rebecca Miller
Rebecca Miller
Posts: 130
Credits: 2069.15

Sub: #9 It is better for you to take an immediate help from a debt settlWed, 04/28/2010 - 14:01



It is better for you to take an immediate help from a debt settlement company.The attorneys there will negotiate with your creditors and try to give settlement offers which will again be broken down into small payments(installments),according to your convenience.


Unregistered

Sub: #10 I just found out today that I am in the same situation...big surFri, 03/26/2010 - 18:45



I just found out today that I am in the same situation...big surprise! I had no idea this could happen. I made a few payments to a law firm for a debt from years ago, and then was unable to make payments, and now my bank account is frozen. I am totally lost, freaking out, and can't find a straight answer anywhere on the web. If there is anyone who has gone through this, that can offer advice about how to get my money back in my account so I can start making minimal payments again, please respond. I am more than willing to make payments, but I can't put up the full amount up front--- 850$. That's why I stopped paying in the first place, they told me that my payments of $50 a month were too little. :( I live in Michigan.


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


Page loaded in 1.419 seconds.