Thread: Garnishment rules
02-16-2012, 02:54 PM #1
- Join Date
- Feb 2012
- Thanked 0 Times in 0 Posts
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, 03:38 PM #2
- Join Date
- Nov 2009
- Pago Pago
- Thanked 1,700 Times in 1,675 Posts
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 HAS sprung, HAPPY EASTER!
By liftrucks in forum Child Custody & VisitationReplies: 3Last Post: 05-05-2010, 01:55 PM
By valma1 in forum Other Residential Landlord & Tenant IssuesReplies: 1Last Post: 10-14-2009, 05:34 AM
By leilei in forum Child Custody & VisitationReplies: 2Last Post: 08-01-2009, 01:13 PM
By crazy in forum Estate Administration & Probate CourtReplies: 1Last Post: 10-12-2008, 12:16 AM
By suki in forum Other Residential Landlord & Tenant IssuesReplies: 6Last Post: 05-05-2008, 06:14 PM