Fema Employment
Can creditors garnish a bank account if I set one up?
I live in a state with a 3 year statute of limitations. At the end of 2006, I stopped paying on $500 that I owed to a credit card and $1200 that I owed on a computer I bought on credit. It's been a few months since I have received notices on either of those debts. At the end of 2007, I cancelled my cable service owing around $250 and I also owe around $120 on a phone bill I never paid. I haven't recieved anything on the cable bill in awhile but a month ago I recieved a notice on the phone bill. I want to set up a savings account because the new job I have only pays in direct deposit or on a debit card they give you, but I really don't want to mess with the stupid debit card. However, I make very little money and it would devestate my financial situation should even $100 be garnished out of my account. What should I do? I hope someone can help me! Links to state (I live in Oklahoma) and federal laws on this would be very helpful too.
Public Comments
- You'd better mess with the stupid debit card, cause they can't garnish that. Any bank account w/your SS# & name is subject to garnishment after a judgment has been rendered. I can tell you this, if you were to only make token payments to each account outstanding - even $10.00 per month, no judge would grant a judgment of garnishment. So make the calls and set up the repayments. $50.00 a month, for peace of mind is worth it.
- yes they can and should. You have named off four obligations that you didnt follow through with, if you cannot afford something then you dont get it, this is why America is in the condition we are in now, because of people like you. Thanks!
- If the creditors have taken you to court and won judgment then yes they can attach your banking accounts. They can also garnish your wages, for Oklahoma federal law applies, so they can take up to 25%. http://www.bcsalliance.com/debt1_oklahoma.html http://www.bcsalliance.com/ccpa_15usc1673.html
- Yes you can be garnished if any proceeding was filed/started before the SOL ran. Here are a few links, they are NOT spam. You will have to wade through to get you info but I'm confident you find your answers
- Yes they can, but don't start worrying about this issue until you've received a summons to go to court. By themselves, debt collectors have absolutely no legal power over you., they cannot garnish your wages or freeze checking accounts...only a court can authorize this and they’d have to go through the court system to do this.
- They can, and if you're close to hitting the statute of limitations, they probably will. But since you have a job, they'd be more likely to garnish your paycheck so the bank account would be a non-issue, the money wouldn't get that far.
- It is a common myth that you cannot be garnished if you are making payment arrangements. You can and will be garnished if the collector decides to sue you. And, as stated earlier, the debit card/bank account debate is a non-issue because the money will be taken from your payroll department.
