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General Question?

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Anonymous
Not applicable

General Question?

hi all

 

I have had the experience in the past where someone coming after me for an old debt was able to get it out of my back account. My questions is, is there any place where i can put money that might be safer from having that type of thing happen?

Message 1 of 4
3 REPLIES 3
gdale6
Moderator Emeritus

Re: General Question?


@Anonymous wrote:

hi all

 

I have had the experience in the past where someone coming after me for an old debt was able to get it out of my back account. My questions is, is there any place where i can put money that might be safer from having that type of thing happen?


A bank account can only be levied if there is a judgment and a writ of execution has been granted. There are some instances as well where a bank has right of setoff to your deposit accounts if you default on any credit obligations with them.

 

If you have open judgments and are worried about all this then I suggest a CU or Bank that is not in your state and one that you will not have any credit obligations with.

Message 2 of 4
surferchris
Valued Contributor

Re: General Question?


@gdale6 wrote:

@Anonymous wrote:

hi all

 

I have had the experience in the past where someone coming after me for an old debt was able to get it out of my back account. My questions is, is there any place where i can put money that might be safer from having that type of thing happen?


A bank account can only be levied if there is a judgment and a writ of execution has been granted. There are some instances as well where a bank has right of setoff to your deposit accounts if you default on any credit obligations with them.

 

If you have open judgments and are worried about all this then I suggest a CU or Bank that is not in your state and one that you will not have any credit obligations with.


Good advice.  Also never give a CA your bank info.  Get a prepaid debit card and then give that info to any CA's and JDB's, and only load the funds needed for PFD's (don't leave extra on the debit card).  Good luck.

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Message 3 of 4
Anonymous
Not applicable

Re: General Question?

Avoid the major banks. Use a smaller bank or CU that is located in another state and does online accounts. A creditor that gets a judgement has to "find" your bank accounts. They usually do so by serving notice to all the local banks and big banks in the area where you live.

Message 4 of 4
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