Judgments and Assets?

[metoo]

I'm not filing for probably 6 months or so. When the credit card companies get judgments against me can they seize assets? I know they can garnish wages, but can they lock down your checking account? I don't owe the bank that I have my checking account with any $. What I am saying is can Citi get a judgment against me and lock up $ in a B of A account? They could know that an account exists since I paid them out of that account before. Could I be forced to disclose liquid assets to them?

[DeadManCrawling]

They can access your accounts if they know about them, have a judgment, and get a court to agree-which will not be hard, if they obtain a judgment.

If your hope is to delay, I would open new accounts in a smaller, local bank, that has no other connection to you. Avoid credit unions.

Then, they will have to, at least, run asset discovery procedures, request depositions, and so on. All this buys you time before filing. We have a 2 year old judgment against my wife which is only now becoming a concern. Hopefully, we can file before the Dec 14 deposition date.

Even if we cannot, it will take them a few weeks/months, to get a judge to issue any sort of order.

[eddiep]

It usually takes a year after you stopped paying before they file a lawsuit. You will be notified by the court and will have 30 days from the time of the notice until the court date. so it shouldn't be a surprise. but you should be fine if you recently stopped paying.

[frogger]

If they have a judgement and can find your bank accounts, then they are fair game. Any account that you have ever used to pay them has been recorded.

Time for a new bank or deal in cash/money orders.

[pookieny]

If you know a judgement is forthcoming, my advice would be to close all bank accounts you're associated with. Don't give anyone the chance to freeze them because when they do, the hold will be almost double of what you owe. And why they are allowed to do that, I don't know.

[AngelinaCatHub]

Attempt to avoid a judgment by all means. You just don't want one as they are powerful and dangerous. File your bk as soon as possible. Don't deal with Judgments. 'Hub

[metoo]

Thanks for the advice. Last payment I made was in March. I'm stuck in limbo with pending personal injury & workers comp lawsuits. Attorneys do not want me to file yet (probably afraid that the trustee will take their case). I guess should get a new bank account and sit tight until I get a subpoena.

They just turned it over to a collections agency, how long do you think I have before they would file a judgment?