Money Removed from my Bank Account

[jp2861]

Will they attack it on other days - another check will/my be deposited this month.

They could. The problem lies with how banks are set up in regards to exempt monies. I haven't run into a bank yet that has an account that a consumer can designate as "funds exempt".

So, until the banking community devises a way to designate certain funds as exempt accounts will continue to be attacked. Have the check mailed each month. It may an inconvenience but it sure beats seeing your account drained.

The reasons for the complaint don't really matter. The banks will not disregard a court order. If the respondent didn't show up in court and identify the funds as exempt, they will disappear. If they were exempt they can be recovered but it could takes months. Kinda sucks when bills need to be paid now...

[jp2861]

But these days more and more large employers are mandating that employees' pay is to be automaticaaly deposited, and refuse to issue actual (paper) checks. I used to work for a place that mandated automatic deposits - and they threatened that if you don't sign up for auto deposits, they would MAIL your check to your home address. So if you're on the West Coast, and your employer's headquarters/payroll dept. is on the East Coast, it could take a week or so before you actually get the check, if it doesn't get lost in the mail.

What would you rather have happen? Your account get drained or wait 5 extra days for your check? Much better to play the waiting game if you think there's a chance of someone screwing with your account. But that choice is up to you...

[howdidithappen]

Support is Court-ordered to be deposited directly into my checking account....

[howdidithappen]

Debt is Chase credit card due to medical expenses - received a Complaint - answered it and then heard nothing for months - now bank account has been cleared out by Chase - I was behind in my mortgage - Chase was taking one and one-half payments on 10/31 to get me caught up - mortgage department didn't get to it quick enough as the bank told me that the "New Jersey Execution Department" took the money. Who do I call now? I'm certain time is of the essence. I did NOT receive any sort of judgment/notice from ANYONE. Tried to make an appointment with a couple of attorneys but none are available for a few weeks.

[lrprn]

Chase probably had the court notice sent to your card mailing address - is your address the same as it was then?

Tried to make an appointment with a couple of attorneys but none are available for a few weeks.

Call the lawyer offices back and explain that you need immediate consultation to deal with your bank account being cleaned out and now your pre-agreed mortgage plan can't be met. Most lawyers leave a few openings in their schedules to deal with emergencies like this, but their staff have to understand that it's truly an emergency.

[howdidithappen]

Mailing address is home address - been here for nine years! I'll call the lawyers again.

[howdidithappen]

How is unsecured debt treated differently than secured debt?

[lrprn]

How is unsecured debt treated differently than secured debt?

Before a debtor files bankruptcy, the collection laws in the state you live in dictate what options creditors and collectors have to get their money from you if you default on the loan agreement.

The creditor/collector must go to court to get permission to enforce whatever collection they intend to pursue UNLESS there is a pre-existing clause in the agreement contract you signed that allows them to bypass the courts and immediately enforce whatever collection option the contract states.

In most states, creditors holding unsecured debts can attempt to collect what they are owed through wage garnishment up to a level the state allows, seizing cash in vulnerable accounts, etc.

Secured debt has these options plus the asset can be repossessed and sold at auction or a lien can be attached to get the money when the asset is sold by the owner.

[howdidithappen]

Claim of exemption - would someone please give me more information on that? Obviously, if I had been able to make the payments to the cc originally, I would have. What is used as exemptions? Mortgage payments? Child Support? How about health insurance premiums and other medical expenses? Taxes?