Thread: Garnishment rules
02-16-2012, 03:54 PM #1
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- Feb 2012
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Jurisdiction / State: Tennessee
From the perspective of a bank in receipt of a garnishment order - can a small balance threshhold be set under which we can reply that the garishee has no funds available. For example: the customer/garnishee has $2.21 in his account upon receipt of the garnishment - in this case it costs us more to process the garnishment than the balance (cutting a cashier's check, mailing it certified, employee time). Our usual garnishment fee is $100 (which we would not charge in this case. Is it legal for us to set a minimum amount (such as $10)- if the garnishee has under $10 on deposit - we consider this no funds?
02-16-2012, 04:38 PM #2
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- Nov 2009
- Pago Pago
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No, you must comply with the court order.
But, you're a bank, right?
You're could be breaching your fiduciary duty by seeking free legal non-advice.
Talk to your bank's legal advisors.
Don't jeopardize your business by being pound wise and penny foolish.
Spring is gonna spring, sooner or later!
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