Jump to content

Judgements and bank accounts?


ynkewmn
 Share

Recommended Posts

Yes they can, In NYS, the judgment creditor's lawyer can send a restrining notice to freeze your account. Banks will freeze twice the amount, by regualtion. Once the account is frozen, they will issue an execution to the sherriff. The sheriif serves it on the bank and there goes your money.

Since the creditor doesn't need to get an order to restrain the account, it can happen anytime.

You may want to move your account to a small credit union. Or have a relative open a checking account in hisname and give you power of attorney to write checks and such. That way you can fund the account and have access " under the radar." I have seen people do this to protect others.

Link to comment
Share on other sites

Yes they can, In NYS, the judgment creditor's lawyer can send a restrining notice to freeze your account. Banks will freeze twice the amount, by regualtion. Once the account is frozen, they will issue an execution to the sherriff. The sheriif serves it on the bank and there goes your money.

Yep, thats what happened to me. My bank said the restraining order is for a year. I tried to close those accounts but the bank said I couldn't do that.

And I said you are charging me fees for bank accounts that don't have any money in them. This could go on for a year. I don't think so.

Oh, the bank will also charge you legal fees. Mine was $200.00 deducted from my accounts. Different banks charge different fees.

Link to comment
Share on other sites

I started a new bank account at another bank and I really did not understand the banker but he told me to open up a automatic payroll account then another checking account. Use the second checking account to pay my bills, groceries, what ever and the payroll account is not touchable only I can touch it. Was he meaning what I think that he is meaning? No one can touch it? I think t hat I need to back to him and find out what he means but has anyone heard of this?

Link to comment
Share on other sites

schellmis63 - the banker may have meant that you have one acct that only receives your paycheck via direct deposit, then you transfer only the amount to cover your bills, groceries and whatnots into the second acct a day ahead of time. I think this would only work for a short period of time, because the judgment creditor can haul you back into court for a debtor exam, then you would have to reveal these other accts, which the creditor can then try to attach. In most states, they can attach at least a portion of your wages. If that's what he meant.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.