Tesla2016

LB&N obtained judgement. Enforcement next?

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Hello, everyone. I'm new here.  For the past couple of days, I've been searching Google and this forum, but still can't find the answer to my questions. Please forgive me if they're somewhere I haven't discovered yet.

I live in Oklahoma, and Capital One hired Love, Beal & Nixon (Oklahoma City) to sue me over an unpaid credit card debt. They have obtained a Summary Judgement and now have sent me a letter requesting that I call them to make settlement arrangements before they enforce the judgement. Unfortunately, I'm in a pretty bad financial situation, so I don't have any money to spare for payments (can barely pay rent and buy food). I assume that enforcing the judgement means garnishing wages and attaching/freezing my bank account. Since I'm not working, that leaves the bank account.

My questions are:

Do they need to obtain a separate court order to freeze my bank account?  If yes, Do they have to go through the same court/judge, or they get such order from somewhere else?

I'm asking because, if they need to get a separate order, I'd like to keep an eye on the Oklahoma courts website (OSCN), so I would get advance warning that a bank account levy is coming.

Thank you in advance for any info.

 

 

 

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43 minutes ago, Tesla2016 said:

I would get advance warning that a bank account levy is coming.

Some states require this others don't and the only "warning" you get is when you find out the money is gone.  The easiest thing to do right now is live "unbanked" until you can deal with this.  Since you aren't working what ever money you have put it on a pre-paid debit card.  Those are virtually impossible to find.  That way your money is relatively safer than in a commercial bank where they can seize the funds.

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Thanks, Clydesman, for your input. 

Yes, I've read about not keeping money in he bank account. However, I'm expecting a couple of hundred $$ that will be direct deposited in the next few days. Unfortunately, It's not possible to redirect the money now, so it will be coming into my bank account. This is why I need to know the answers to the questions in my original post.

I'm hoping that someone who knows the procedures for Oklahoma will chime in.

Thanks again

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4 hours ago, Tesla2016 said:

Do they need to obtain a separate court order to freeze my bank account?

Yes, they would have to go to court and get and order for a bank levy.  Then serve it on your bank.

4 hours ago, Tesla2016 said:

f yes, Do they have to go through the same court/judge, or they get such order from somewhere else?

They would have to go through an OK court but it would not necessarily have to be the same judge/court room.  Typically it is if they use the same county etc.

2 hours ago, Tesla2016 said:

However, I'm expecting a couple of hundred $$ that will be direct deposited in the next few days.

Get the pre-paid card NOW and activate it.  Then watch the account and the nanosecond you see that money hit, pull it out and put it on the card.  Then set up future direct deposits to the card.  You can probably get away with this next transaction to the account before they get a bank levy for any accounts.  

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You typically will not find out about a bank levy until you are in line trying to pay for groceries, unless you obsessively watch your bank account to see what is going on with it.   If you are not working, whether you can later exempt the money in the account depends on the source of funds.   Social security disability payments are exempt from seizure under federal law.   Some (not all) states will exempt workers' compensation or unemployment benefits.   However, if you mix those funds with funds from non-exempt sources, the funds become "commingled" and some states allow the creditor to take away the exemption.    

I find most creditors will find it cheaper to use a judgment debtor examination to try and discover the location of bank accounts, etc but some already know this information so you cannot really rely on that.   Since you were sued by Capital One directly they very likely have the banking information they need to seize your account if you ever used that account to pay on the account.   

It really varies from case to case.   Some judgment debtors are safe until a JD Rule is accomplished.   For some debtors, the judgment creditor already knows where you work or bank so they just seize.    Garnishing wages tend to get the most attention from a judgment debtor because it's ongoing.   bank account seizures are a one time shot and it's basically the luck of the draw if they catch you with some money in there.

 

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Safe!!!

The direct deposit came into my account, and I was able to withdraw it. No garnishment order on the court's website yet.  Whew! 

Thank you all for taking the time to share your knowledge and helpful information.

Now I'm wondering about something else... If the creditor does get a garnishment/levy order on my bank account and then I receive a check and go to cash it at my bank, Will the bank "confiscate" the check? Or simply decline to cash it and return it to me?

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9 minutes ago, Tesla2016 said:

If the creditor does get a garnishment/levy order on my bank account and then I receive a check and go to cash it at my bank, Will the bank "confiscate" the check? Or simply decline to cash it and return it to me?

No way to tell.  The easiest thing to do is to take the check to the bank it is drawn on and cash it there.  

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3 hours ago, Tesla2016 said:

Safe!!!

The direct deposit came into my account, and I was able to withdraw it. No garnishment order on the court's website yet.  Whew! 

Thank you all for taking the time to share your knowledge and helpful information.

Now I'm wondering about something else... If the creditor does get a garnishment/levy order on my bank account and then I receive a check and go to cash it at my bank, Will the bank "confiscate" the check? Or simply decline to cash it and return it to me?

A bank levy is usually a one shot deal.  While I would not make deposits into an account being held pursuant to a levy, the creditor usually gets the money that was on deposit at the time of the levy and that's it.   It's not an account I would use again but in theory you could.    As you would imagine, the judgment creditor can issue the levy over and over and over until the judgment is satisfied.    It's not usually a preferred method if your state allows wage garnishment which is a procedure they only have to go through once per employer.

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