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Our bank account was levied last month by a creditor that I have been paying for two years. The reason they levied was because I lost my payment book while out of town and forgot to pay on the account. To be honest, I am paying on so many judgments due to my Husband losing his job, and me being unable to work due to my health, that it just got forgotten about.

In any case, we had cashed in my Husband's 401K to pay our house note and to pay some other bills off and so there was money in our account at the time. The balance of the judgment was $1378.26, according to the court clerk. My account was levied for $1478.26, which covered the judgment, the $100.00 fee to the bank, and all of the other costs involved with the judgment from the start. The creditor is claiming that we still owe them $1510.37 (the judgment plus interest) and want me to commit to a payment plan because they don't know how much the clerk's office is going to send them. I spoke to the clerk's office and they are sending the creditor $1356.26, which is accounting for the $22.00 fee that the sheriff's office charged to serve the levy on the bank. That leaves a balance of $154.11 in interest, and according to the clerk, the judgment has been satisfied. It's not our fault that the creditor did not take the full amount (including interest) when they levied our account, the money was there for them to take. I have spoken to the creditor several times and have tried to find out what I need to do but, am getting nowhere fast. What options do I have to prevent them from taking anymore money or having to pay the extra interest when they made the mistake of not taking what was owed to them from the start?




contact the court asap.they got their money,and are harrassing you for more.do that asap.go in person.who is the creditor?sounds fishy to me so again o to the court and inform them of this.it is so not right.

Sub: #1 posted on Mon, 12/16/2013 - 23:48

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

The creditor is Gault Financial and Thompson and Booth Law Firm in Knoxville, TN. I have been trying to get a straight answer for over a month, and keep getting the runaround from them. I am headed to the Clerk's office now to obtain a copy of the paperwork. I will write a letter to Thompson and Booth/ Gault to let them know that I will not be paying their "Interest" since I have done my part, according to the court system.

Thank you for your reply, it was very helpful!

Sub: #2 posted on Tue, 12/17/2013 - 00:09

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a little looking shows this is how they do business.most judgements are defaults.then they try to get extra money out of those unfortunates.fight them now as again this isn't right,and it's a pleasure to help!

Sub: #3 posted on Tue, 12/17/2013 - 00:14

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

Sorry Paul but you are wrong...this does not sound fishy and is pretty standard practice. A levy is sent to the bank with the amount due on that specific date. The bank is not updated daily interest charges (Interest on judgments is set by the state) When they are successful in levying an account, what goes to the creditor it applied to the interest first and then principal. You have not satisfied your judgment so their will be no lien release and they could potentially levy you again. And interest is still continuing to accrue. Pay it and resolve the account.

Sub: #4 posted on Tue, 12/17/2013 - 08:09

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.15)

i will disagree as again i found interesting info on creditboards about gault,and thompson&booth.they are scum that live and die by either the default,or stipulation judgement.a few things though.

1)the OP stated that there was more than enough to cover the 154.11 left,and they didn't take it.
2)this scumeating bottomfeeder is trying to get the OP to agree to a new plan as if the levy never happend.
3)to quote"we don't trust what the court is sending us"doesn't sound like interest to me in fact they want the full 1500.00 as if the levy never happened.
4)i know it's hard to believe but a judge can rule,but for a smaller amount than the plaintiffs were hoping for.also with no interest.

sorry again soaplady,but i am still advising the OP go before the judge,or a judge and get the real info as knowing what i know about gault,and thompson&booth scumeaters.

Sub: #5 posted on Tue, 12/17/2013 - 20:09

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

one last thing.the only instance that interest accrues is if the levy amount exceeds the amount in the bank.so since the 1478.26 of which 1356.26 was the balance,and it was covered then the plaintiff should have contested the amount.also the OP mentioned they made payments prior to them losing their payment book.i know the judge took that into account as per the levy amount.so unless the OP goes to the courthouse,and a judge,or the judge says differently then the OP should not only not pay them,but look into their own legal action against this place.i hope the OP does that and returns with the results.

Sub: #6 posted on Tue, 12/17/2013 - 23:29

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

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