My bank which we had all our bank accounts with including buisness, savings, & checking , without warning or due process cleaned out all of our accounts including funds from SSD for our special needs child we were fostering at the time, we were two months behind on new vehicle as economy was putting a beating on our flooring retail & installation buis. we were never behind on anything for 4 years prior to this hard time, and I called our bank president to inform him of our financial struggles and offered to either surrender the vehicle volountarily or I would try to sell it if he would give me a month or two. he agreed to choice (b) as we both knew the vehicle would never bring anything at auction. three days later I cashed a deposit check of $5,000.00 dollars from a job to be done and withdrew $4,000,00 that day to cover payroll tax & material for job. the varey next day he not only sucked that account dry , but also our personal savings & checking account, causing checks to start bouncing . when I " CONFRONTED" him about his sleezy tactics, his only defense was, I seen this large activity and it made me nervous. I asked him about due process (warnings in writing) maybe (freeze accounts) to allow me oppurtunity towork something out. he admitted that simply because he had direct axcess to our accounts he was within his rights to do so.. and I have it all on audio tape..the repucussions to this was devistating to my buisness ,home and vehicles. we lost it all.. can I make him pay for the damages we endured from his sneeky buisness tacktics??? thanks for any help.. Ken...
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Bank cleaned out my buis. account & personal account without due process or warning..
- Thread Starter kenny61
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army judge
Super Moderator
If it wasn't in writing, it wasn't a contract.
The bank had no legal duty to forego any lawful collections activities to satisfy the debt you owed to them.
Sorry, the bank did nothing illegal.
It may have been immoral, possibly unethical, but not illegal.
Hence, you have no legal remedy resulting from the bank's lawful collection activity.
The bank had no legal duty to forego any lawful collections activities to satisfy the debt you owed to them.
Sorry, the bank did nothing illegal.
It may have been immoral, possibly unethical, but not illegal.
Hence, you have no legal remedy resulting from the bank's lawful collection activity.
Thank you army judge, I was under the impression that they had to atleast give some warning, or freeze account before just taking it. after all we were only 2 months in rears on vehicle at the time. and he took way more than was actually owed. including SSD funds. thanks again KEN..
Thank you army judge, I was under the impression that they had to atleast give some warning, or freeze account before just taking it. after all we were only 2 months in rears on vehicle at the time. and he took way more than was actually owed. including SSD funds. thanks again KEN..
army judge
Super Moderator
You're welcome, Kenny, but you may have a way out of this!!!
You use the acronym "SSD".
Are youbreferringbto social security disability monies?
If you are, he shouldn't have taken those.
Social insecurity monies are untouchable, with a few exceptions, none of which exist in the matter at hand.
army judge
Super Moderator
Okay, Mr. Kenny, take a look at this.
Social Security benefits cannot be garnished by this type of civil judgment creditor. However, if you are using direct deposit and the Social Security funds are going into an account where you keep other money, your bank may inadvertantly honor a fi fa on the judgment.
I would consider sending a letter to the lawyer who is representing the judgment creditor to advise him that your husband's sole source of income is Social Security and therefore exempt from garnishment.
Be aware, however, that other assets – his house, other bank accounts, other assets – can still be at risk.
Another point to consider – does this creditor have a legal right to sue? Claims for breach of contract are subject to statutes of limitations. If this debt is ten years old, for example, it may be "stale" and no longer actionable. Recently, I have heard about a number of lawsuits filed on stale debt – if the defendant does not raise this issue, you could be stuck with judgments even when the underlying claim is bogus. There is a remedy to challenge this type of judgment called a "collateral attack on the judgment" but collateral attacks are expensive and time consuming.
If you receive a lawsuit on a debt that seems unusually old, it would probably be worth the time to run the case by a lawyer. My colleague Bill McLeod of Boston, regularly writes about Fair Debt Collection Practice horror stories. If you are under any illusion that collection agencies are trustworthy entities, some of the examples Bill cites of egregious actions by bill collectors will open your eyes.
If you have other assets at risk, and the judgment is large enough, a bankruptcy might be something to consider. As a rule, you are better off filing bankruptcy before a judgment is issued, but there is a procedure in bankruptcy practice called "avoiding the lien" where a judgment lien can be stripped and made into an unsecured debt.
The exemption is when you owe the government, other than that, those funds (social insecuroty) are untouchable.
Social Security benefits cannot be garnished by this type of civil judgment creditor. However, if you are using direct deposit and the Social Security funds are going into an account where you keep other money, your bank may inadvertantly honor a fi fa on the judgment.
I would consider sending a letter to the lawyer who is representing the judgment creditor to advise him that your husband's sole source of income is Social Security and therefore exempt from garnishment.
Be aware, however, that other assets – his house, other bank accounts, other assets – can still be at risk.
Another point to consider – does this creditor have a legal right to sue? Claims for breach of contract are subject to statutes of limitations. If this debt is ten years old, for example, it may be "stale" and no longer actionable. Recently, I have heard about a number of lawsuits filed on stale debt – if the defendant does not raise this issue, you could be stuck with judgments even when the underlying claim is bogus. There is a remedy to challenge this type of judgment called a "collateral attack on the judgment" but collateral attacks are expensive and time consuming.
If you receive a lawsuit on a debt that seems unusually old, it would probably be worth the time to run the case by a lawyer. My colleague Bill McLeod of Boston, regularly writes about Fair Debt Collection Practice horror stories. If you are under any illusion that collection agencies are trustworthy entities, some of the examples Bill cites of egregious actions by bill collectors will open your eyes.
If you have other assets at risk, and the judgment is large enough, a bankruptcy might be something to consider. As a rule, you are better off filing bankruptcy before a judgment is issued, but there is a procedure in bankruptcy practice called "avoiding the lien" where a judgment lien can be stripped and made into an unsecured debt.
The exemption is when you owe the government, other than that, those funds (social insecuroty) are untouchable.
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