Bank of America called

[mike9302]

A guy left me a voice message because I dont answer my phone when they call but he said they have something important to tell me and he said they have done what sounds like a ppestate for my state in AL and he gave me some 8 digit number and his direct number to call him back. Before it was some guy who called himself Mr. Miller and now it is a new guy. The first guy Miller had a deep voice and called me daily. Now it is some new guy who started calling.

I was wondering if anyone has ever heard of this ppestate. My balance is about 6400 with them and I made 1 small payment in the last year. Hell it may of been longer than a year. I will probably eventually do a bankruptcy but I need to save the money for it and want to get through Christmas.

Also I want to ask for some advice. I have an account with another online bank for a savings account and I have a checking account with direct deposit. Should I go ahead and empty out the savings account and just put my money in a jar under my bed and also quit doing direct deposit? Or do they first have to sue me before they can do a thing?

[Spartan]

Whatever they say on the phone, has no actionable consequence. They have to sue you, and if they do, they have to serve you the paper. You can answer them in court. They have to get a judgement against you, and then to find out where you assets are, before they can get their hands on them.

The phone calls can be ignored. They have to put everything in writing and mail it to you.

But if you have a truckload of money and you are trying to hide that from creditors, that is called fraudulent conveyance. Even if you move that into someone's name or other form of protected assets, they 'may' be able to ask the court to reverve your transfer.

If it is money you need to live on, you can horde those, I mean like buying money order for anticipated living expenditures and necessities. Expenditure for basic necessities is allowable.

[CindyLou]

When I was waiting to file I purchased travelers checks and sent my mom the receipts from them in case of loss or fire...just a thought..

[GoingDown]

A guy left me a voice message because I dont answer my phone when they call but he said they have something important to tell me and he said they have done what sounds like a ppestate for my state in AL and he gave me some 8 digit number and his direct number to call him back. Before it was some guy who called himself Mr. Miller and now it is a new guy. The first guy Miller had a deep voice and called me daily. Now it is some new guy who started calling.

I was wondering if anyone has ever heard of this ppestate. My balance is about 6400 with them and I made 1 small payment in the last year. Hell it may of been longer than a year. I will probably eventually do a bankruptcy but I need to save the money for it and want to get through Christmas.

Also I want to ask for some advice. I have an account with another online bank for a savings account and I have a checking account with direct deposit. Should I go ahead and empty out the savings account and just put my money in a jar under my bed and also quit doing direct deposit? Or do they first have to sue me before they can do a thing?

Yes, quit doing direct deposit. As many people have found out the hard way, even money thought to be exempt can be seized by creditors when it is checking accounts and savings accounts, and then it up to you to prove that it is truly exempt in court before you can get it back, which is difficult, time consuming, inconvenient, and expensive.

Stop using checking accounts, etc., and start using money orders, etc. to pay your bills.

As far as keeping your money in a jar under your bed, try to find a better place than that in case a burglar breaks into your house or you have a fire.

The suggestion above about travelers checks is a good one, too.

But there's nothing fraudulent about keeping your money in cash and using it for your daily living expenses. Lots of people do just that.

[NissanMan]

Yes, quit doing direct deposit. As many people have found out the hard way, even money thought to be exempt can be seized by creditors when it is checking accounts and savings accounts, and then it up to you to prove that it is truly exempt in court before you can get it back, which is difficult, time consuming, inconvenient, and expensive.

Stop using checking accounts, etc., and start using money orders, etc. to pay your bills.

As far as keeping your money in a jar under your bed, try to find a better place than that in case a burglar breaks into your house or you have a fire.

The suggestion above about travelers checks is a good one, too.

But there's nothing fraudulent about keeping your money in cash and using it for your daily living expenses. Lots of people do just that.

Now what if I were to make my savings and checking a joint account with someone else? I think I have heard from someone a creditor cannot seize a joint account since the other person on the account has nothing to do with the creditor and the money is technically theres to.

[CindyLou]

I have not heard that before. But my gut would be that it would not be a good idea??? anyone else??? Its better just to not have the money accessible to them at this time.

[HHM]

Now what if I were to make my savings and checking a joint account with someone else? I think I have heard from someone a creditor cannot seize a joint account since the other person on the account has nothing to do with the creditor and the money is technically theres to.

Whether that works will depend on your state law. However, I doubt it will work. When a creditor has a judgment against you, the burden of proof falls on you to prove either that the asset is exempt or it is really someone elses. Thus, the creditor can still hit the bank account and clean it out, and then you have to go to court and prove that some of the money in the account was not yours, etc etc.

[SinkingFast]

Now what if I were to make my savings and checking a joint account with someone else? I think I have heard from someone a creditor cannot seize a joint account since the other person on the account has nothing to do with the creditor and the money is technically theres to.

My Brother just went thru getting money back from a Creditor.

Brother had a car repo'd. The Creditor got a Banking Institution Garnishment to take money from Brother's bank acct. Brother draws SSDI and a small pension. Money derived from age or disability are exempt from garnishment in his State. Bro hired an attny and got the money back plus all fees.

The attny told Bro to watch his money from now on. The Creditor will probably try the whole Garnishment thing again.

In their State, BanK Garnishments are issued by SSN, not by acct number.

Bro's attny said it wouldn't matter if he was on someone else's acct as a 2nd or not. The Garnishment Order would find him based on his SSN.

As HHM says, this may vary from State to State so check your local laws.

[Hillbilly]

Can creditors legally seize funds held in a checking or savings account prior to obtaining a judgment?
I mean creditors other than that particular Savings and Loan institution where the funds are held.

[HHM]

Can creditors legally seize funds held in a checking or savings account prior to obtaining a judgment?
I mean creditors other than that particular Savings and Loan institution where the funds are held.

Generally, No. Unless you gave as security for a loan a post dated check.

[CindyLou]

I have have hard of a creditor putting a hold on a savings/checking account in anticpation that the debtor may try and withdrawl the money once they are notified of impending judgement. They don't actually GET the money until after the judgment, but the money if frozen until the court date. If you have pending judgements or any outstanding debts, it is just much safer to not leave money sitting in the bank ready for the taking. Plus if you have money there, the creditor is more likely to file suit based on the fact that you do have money.

[Hillbilly]

I have have hard of a creditor putting a hold on a savings/checking account in anticpation that the debtor may try and withdrawl the money once they are notified of impending judgement.

How far in advance can they act on just an "anticipation"?

My house has been foreclosed on, and was sold at the Sheriff's auction in September, it is still early within the statutory 6 month redemption period.
Can a non-purchase money lender obtain and attach a judgment lien to a homestead while that homestead is still within the statutory redemption period? (In my case a HELOC)
A creditor putting a hold on bank accounts, purely on speculation, and in "anticipation", months in advance of any notification of an impending judgment, would interfere with any attempts to redeem the property.

Kind of like "We anticipate that you are going to lose your home, so we are going to take this action to make sure that you do lose it." ????

[HHM]

To Hillbilly...

Generally no, a non-purchase money creditor (with a judgment) cannot lien a property after it is foreclosed (regardless of the redemption). However, if you in fact redeem the property and title goes back in your name, then they can put a lien on it.

As for putting holds on bank accounts, the creditor first has to file a lawsuit because it is ultimately the court that orders the hold. The creditor cannot just put a hold on you accounts out of the blue. However, I have never heard of this tactic used in the context of the normal consumer credit case (mainly because of the exemptions, and what the creditor has to prove in order to get the order). It it typically used with business debtors and/or large amounts of money.

[CindyLou]

Here is an excert from one of many articles about PREJUDGEMENT GARNISMENT ORDER..here is the link in case you want to read the entire article.

http://www.yourdictionary.com/business_profile/debt/creditcard/creditcard-garnishmentt.html

I have heard of this happening. They freeze the account and then you have to prove you are not defrauding or do not plan to defraud. Depends on the company and the tactics of their lawyer.


Garnishment is a procedure that a creditor can use to convalesce money you owe by collecting it from a third party such as your bank or your employer. If a creditor efforts to garnish your salary or bank account, it is assertive to know how the garnishment process functions.

Time the Credit card Garnishment Process Starts

Garnishment may only take place once a civil lawsuit has been filed against you. A lawsuit is filed when the complainant, that is, the person to whom you owe money, files a replicate of a complaint on you. The complainant ‘s complaint is the creditor's claim that you owe money.



Generally, credit card garnishment happens after the complainant in the lawsuit wins a verdict of the court against you. Therefore requiring you to pay good amount of money. By winning judgment, the complainant becomes a judgment lender, and can then start a assorted garnishment lawsuit against you.

Nevertheless, credit card garnishment can also happen before the nevertheless has won a court judgment against you. Garnishment can happen before judgment in case you do not react to the react to complaint’s complaint within 20 days after it was given on you. Thus, you should make it a point to respond to these documents as soon as you receive them. If you do not answer the complaint’s lawsuit, in that case you are understood to be in default. If you are a defaulter, the complainant only has to wait for just20 days (Therefore a total of 40 days) before garnishing the amount complainant says the defaulter owes.

Lastly, in seldom circumstances, garnishment can happen before judgment if it becomes apparent that you intentionally are delaying or defrauding your creditor by using your property in some other way, to avoid paying the debt. The creditor in this case must obtain a prejudgment garnishment order, basically after a court hearing on the matter.

[CindyLou]

http://www.lawyers.com/bruceatkinslaw/PrejudgementRemedies.jsp

here is a another link. The person that told me about it said that her the prejudgment order was filed at the same time the law suit was filed. So by the time she was notified of the suit, the account had already been frozen. They did not get her money because it was exempt, but she did not have access to that money for eight weeks until she attended her judgment hearing. I stand by my advice to keep the money out of the bank until all the bk stuff is settled or run the risk of either losing money (if its not exempt) or losing use of the money for a period of time (if it is exempt) and having to to through the trouble of straightening it out either way.