I just found out that my bank account has been garnished by a credit card collection agency. I am in total shock and need advice from those this has happened to. The paperwork (Writ of Execution) was signed by the judge on 10/1, but i didn't receive anything in the mail until 10/17. I have not received any notice from my bank. My account is usually in the negative, so I am not sure how they will garnish on a negative balance. How long does the bank have to freeze funds? Will they wait until funds are there before they freeze? I am just not sure of what to do or what rules need to be followed by each side? Do I stop direct deposit of my paycheck into my account? Thanks in advance for your answers. :)
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.