Judgement-then how long to take bank account?

[anykey]

Does anyone know how long it takes between the day of the judgement to the taking of the bank account?

Do they have to pay a fee to seize the bank account?

Does the bank notify you prior to the taking?

What if the funds are not available? As in securing a visa card? Or outstanding checks??

[MSbklawyer]

Does anyone know how long it takes between the day of the judgement to the taking of the bank account?

Do they have to pay a fee to seize the bank account?

Does the bank notify you prior to the taking?

What if the funds are not available? As in securing a visa card? Or outstanding checks??

Thats a state specific question. In Mississippi, it's 10 days for bank accounts and other assets; 30 days for wages. That's fairly typical.

There usually is a process serving fee . . . but they'll tack that onto the amount you owe.

No, the bank won't notify you.

If the funds are not available, then naturally they can't get them. But outstanding checks will simply bounce.

[anykey]

I am in PA. There is no wages. I am afraid to put the house payment in my checking - I usually pay that online.

Knowing they now have a judgment- I try to keep not much money in the bank- but enough that there is no NSF fee.

The judgment is not the party who has the mortgage- The mortgage is current. I just do not want to lose my house.

[anykey]

Ok- thank you. So they have to file another form. Gosh- there is $10 in that account. I wonder if they know it would not be worth it....

[carol7lynn]

It's a gamble they're willing to take. By that I mean a gamble that you won't try and protect yourself before you stop paying them or they get a judgment. You can always pay your mortgage with a money order.

Lots of luck.

C7L

[anykey]

It's a gamble they're willing to take. By that I mean a gamble that you won't try and protect yourself before you stop paying them or they get a judgment. You can always pay your mortgage with a money order.

Lots of luck.

C7L

The thing is I did a 7 a few years back. If someone looked thru it- one would say- ahh that guy is slick.

locally people tend to have money in the bank.

I have to keep some type of account-

1. to cash my SS check.
2. ISP-internet is via credit or debit.


Oh- I wondered that maybe they got the judgment -in that it must look better on their balance sheet.

One time- in order to just cash my check- I opened a Christmas club. I put $2 in it- and was good all year to cash checks. LOL.
I heard it can be $6 a cash a check.

Grocers use to take payroll and govt checks- but I don't know id they still do. The Patriot act- made red tape...

[junker]

if you are on ss, you can get their debit card (ss)hrough commerica bank, i believe..creditors cant touch it...and you can pay bills with it..and there are no fees except for atm...you can go in any bank and withdraw for free....

[carol7lynn]

The thing is I did a 7 a few years back. If someone looked thru it- one would say- ahh that guy is slick.

So, let them talk. How many times has the government bailed out various segments of big business or the banking industry at tax payers expense.

And your probably right about judgments. They are probably counted as a receivable making the company appear more profitable, in the short run, than it really is. Just like the debtor-they are buying time so they can still command the same borrowing power or credit rating.

C7L

[junker]

i have filed bk twice over the years...the only reason i havent done it more is i am now collection proof and right now i dont need to....other wise i could have would have filed 4 times by now...and yes credit cards keep coming back... my roommate also filed bk twice..defaulted 8 years ago on over 10k and within 3 years started getting credit cards AGAIN.. now she has almost 15k in NEW cc debt...and is about to default again...the number of times you bk you have is totally irrelevant...

[anykey]

So, let them talk. How many times has the government bailed out various segments of big business or the banking industry at tax payers expense.

And your probably right about judgments. They are probably counted as a receivable making the company appear more profitable, in the short run, than it really is. Just like the debtor-they are buying time so they can still command the same borrowing power or credit rating.

C7L

I had an atty- when I last filed. He was worth his fee. He let me know what I could and could not do. I was in the top amounts per his serving area. Not the highest- but up there.

Funny thing- the monetary system itself is deeply flawed.

I expect a 3-1 devaluation of the dollar by the end of 2010. What that means is $3 for the new currency $1. Everyone is about to lose 2/3 of their wealth.

Also- by June or September the government is going to dismantle the FDIC.

[anykey]

http://www.youtube.com/watch?v=c0_XExjRP5Y

[carol7lynn]

http://www.youtube.com/watch?v=c0_XExjRP5Y

Scarey business. The government is to blame for the entire mess by not regulating the mortgage or banking (namely credit card) industries until the horse was out of the barn and down the road.

First, they allowed lenders to grant mortgages based on the value of the home rather than the buyers ability to pay. Then they turned a blind eye and a deaf ear to no doc loans, 125% LTD lending practices and negative amortization (pick a payment out of thin air) loans.

If that wasn't bad enough, the government could have cared less that banks were giving credit cards to unemployed college students and the family dog without doing due diligence first on unsecured debt. So what if the family dog or the unemployed college students ends up defaulting on the debt because the bank can then turn around and write the bad debt off and then sell it to a junk debt buyer while also getting a big tax break-funded by taxpayers.

What a mess. I don't know much about this Bob Chapman guy. He may or may not be a nut but if half of what he predicts happens I wouldn't be one bit surprised.

C7L

[jacko]

Its easy to pass blame on the gov't without looking in the mirror ourselves. Elections have consequences. Banking deregulation was a campaign policy issue in previous elections.

Scarey business. The government is to blame for the entire mess by not regulating the mortgage or banking (namely credit card) industries until the horse was out of the barn and down the road.

First, they allowed lenders to grant mortgages based on the value of the home rather than the buyers ability to pay. Then they turned a blind eye and a deaf ear to no doc loans, 125% LTD lending practices and negative amortization (pick a payment out of thin air) loans.

If that wasn't bad enough, the government could have cared less that banks were giving credit cards to unemployed college students and the family dog without doing due diligence first on unsecured debt. So what if the family dog or the unemployed college students ends up defaulting on the debt because the bank can then turn around and write the bad debt off and then sell it to a junk debt buyer while also getting a big tax break-funded by taxpayers.

What a mess. I don't know much about this Bob Chapman guy. He may or may not be a nut but if half of what he predicts happens I wouldn't be one bit surprised.

C7L

[anykey]

The sub mortgage mess is not the source of the mess. It is a component.

Repeal of Glass-Steagall is the culprit.

This means that rather the 8x the amount of reserves banks loan- it is 40x-60x.

There is over 60 trillion $ in derivatives that will never be paid. This is done in the dark- it is casino gambling. The mortgage mess is a convenient smoke screen to defect the real cause of the mess.

1/2 of the banks 8200 banks are insolvent.

The FDIC will be dissolved next year.

Jesus threw the money changers out of the temple. We did not.

[Bell30656]

*Note* Most bank account seizures happen either on Friday or the 3rd of the month. Want to guess why?