Judgement, now what??

[junker]

Thank you for that. I already have a new checking account, and I will get on the rest.

it doesnt matter that you have a new checking acct, that is probably the FIRST thing they will try and get....as others said...learn to live without bk accts until you get bk filed....use prepaid cards...they can lien your new bank acct in as little as 2 weeks...the only way a new checking acct is helpful is if it is an OUT of COUNTY local bank...then is would be harder to find...like if you live in LA county and had your acct with a local bank in Irvine or San diego..that didnt have a branch in LA county....THEN is would possibly take much longer for them to find....

[catleg]

Judgments are docketed with the court at state level to show they have a claim against any real estate owned by the debtor in the state.

Curiously my wife's default judgment does not show up on her credit reports, but mine (which I fought) does show up, so there's an argument in favor of not fighting.

As far as debtors exams, do what I did. I mailed in the legal paper listing 2 accounts then went straight to the bank to close them out. No bank account, no service provided to court order, no penalty fees imposed by bank. I can open a new account tomorrow. The debtors exam is just a specific point in time. As long as you answer truthfully, you are not bound to leave money in those accounts or not open new accounts elsewhere.

[frogger]

In our area, it's best if you do show up for court hearings. The judges want for a settlement to be worked out before it comes up for their judgement.

The judges really like a consent agreement in which the debtor agrees to pay a certain amount each month. As long as this is done, then you know what the terms are and the levys and garnishments can't happen.

I've seen big judgements settled for as little as 20.00 per month on consent agreements.

[catleg]

In our area, it's best if you do show up for court hearings. The judges want for a settlement to be worked out before it comes up for their judgement.

The judges really like a consent agreement in which the debtor agrees to pay a certain amount each month. As long as this is done, then you know what the terms are and the levys and garnishments can't happen.

I've seen big judgements settled for as little as 20.00 per month on consent agreements.

And help us out here...your area is?

[junker]

...

[albacore44]

....

[junker]

heres a couple of quotes from an attorney..that TELL it is NOT hard for a creditor to get your banking info no matter where it is.....i smell smoke.....

(True original creditors simply assign or sell their bad debts to true 3rd party debt collectors so they never have any reason to hunt for bank accounts but true 3rd party debt collectors can do a SSN check and find out where any bank accounts a debtor might have are located. They can do local searches, state wide searches and even nationwide searches.)

(Your creditor will not have your new bank account information, as you will have never made payments from the new account, so changing your account may offer you relief from the repeated levies you have been experiencing. Unfortunately, this solution may only be temporary, as the judgment creditor may find your new account by communicating with banks in your area or by demanding the information from you through a court order. These steps will take time though, so changing your bank may at least provide you with some temporary relief )

[treehugger1]

I know how a creditor got my bank account number. I once used it to make a payment to the creditor. After that, I closed the account.

It has been two years since I last had any traditional checking account. One of the best things I've done in the past few years is go to disposable/reloadable prepaid debit cards. I even use the 16 digit visa prepaid number to pay all my utility, insurance, you name it. I can use the cards online to make payments, or make phone payments using the prepaid card number. Cards are getting cheaper and cheaper (Walmart. AAA, etc.)

I have a friend and an ex-wife who have been involved in the banking industry for many years. They claim there is no magic national list out there that ties bank accounts and SSNs together. At least there is not a list available for private or public access. If you used your account to make a payment to a OC, CA, or JDB, then...oops.

It is possible for some to do a blanket levy of all your local banks in a small town, although this could be quite costly to the plaintiff.

Here are some costs to plaintiff in Oregon. (Pretty cheap)
Filing a Writ (bank/employer) $10
judgment order $10
judgment by confession (stipulated) $5
entry of judgment $7

Of course there are also the costs associated with service on a defendant or garnishee.

From my personal experience here in this state, time from judgment to writ against wages takes about 2 days if the plaintiff is on the ball.

[junker]

heres another example...taken from a legal site... the fact is STILL..they can EASILY and quickly get your banking info....

Blanket Levy


This technique involves serving a Writ of Execution and a Bank Levy on every bank in the area. This procedure assumes that you will hit an account eventually and that the debtor will bank within only a few mile radius of his home or work. It is rumored that the IRS has used this tactic in the past. For obvious reasons, this technique works best in a small town
...still smell smoke....

[junker]

....

[treehugger1]

Junker, I would love to see an arbitrary request for a tie that links a SSN number to a bank account number without such knowledge being authorized by a bank or bank's client, or without a federal court approval. I think your Ass. Manager of BoA is full of SH*T, unless they were only speaking of accounts they hold. By the way, my advice is the same as BB's. Get away from the national banking businesses and find a prepaid account or out-of-county/state/country account to bank with. This is really not that hard in the global economy. Enough said. One's own due diligence will support this. In particular, find a small low-key bank that is not associated with your local community.

Better yet, go to a paper payroll check and money orders.

[DeadManCrawling]

I can offer this from PERSONAL experience, at least in one state: Florida.

Capital One has a judgment against my wife. As does another creditor.

BOTH were paid out of the same EXACT checking account we are using now. Last date of payment to either was three years ago.

Both judgments were entered 8 and 12 months ago.

Both creditors have our full bank account information, SSN's, home address, and I am sure, list of assets owned.

Neither has, thus far levied the very account they know about.

They have, however, sold the debt repeatedly. We are on debt buyer number three. Maybe four, I forget.

Two weeks ago, we received a letter from one JDB for the Cap 1 debt. They are threatening to file (but have not yet) a motion to compel to disclose . . . guess what? Bank account information.

We are planning to file if they actually pursue the matter. If they don't, we buy a little more time before filing.

Keep in mind, this has been three YEARS. They have all of our info. We have never closed these checking accounts. In fact, the accounts regularly have over 10k in them, and the judgment amounts total 6k or so.

I wonder if there is a privacy law, at least here, that stops the OC from passing on some info, like SSN and bank account.

It is very difficult, in Florida, anyway, even with full knowledge of assets and accounts, to effectively seize assets.

I only speak from our personal experience, and maybe ours is an odd case, but it is true, every word.

[treehugger1]

I find the comments related to C1 intriguing. For the most part, with the exception of accounts sent to NCO and regional attorneys by C1, that C1 is pretty calm. I think they had their hands slapped a few years ago in some giant collections lawsuit. It is also unclear to me if C1 is a nationally "chartered" bank by the feds. I noted on a NACA website here that if one is sued by C1, the credit card agreement relates to some out-of-state laws related to SOL. The particular out-of-state laws have only a 3-year SOL. I've had all but one of my C1 accounts sent to legal firms in my state. I DV'd all of them and sent them C&D's. The last I knew C1 had the accounts back and had referred them to some east-coast collection agencies, 3000 miles away. C1 is a strange lender. They are also reporting an approximate 10% chargeoff on credit cards the past few months. At one time they had all my old checking account info, but like you, they never went after any unauthorized payments. They were not willing to work with me in terms of all the late fees and high interest they had added so they went in the FU pile. Strange.

Maybe Florida has a similar exemption to Oregon. In Oregon, up to $7500 of exempt money on deposit in a bank account remains exempt. This has been really frustrating for some of teh BK 13 trustees here. There have been plenty of issues related to this situation where the trustees have lost a battle over the $7500 in exempt funds. No wonder that a few years ago when I first looked into a BK 13, all the attorneys told me not to worry about how much money I had in accounts if I decided to file.

I did find this on their C1's 10-Q. I don't think a "national association" is the same as a nationally chartered bank. Virginia has a 3-year SOL on open accounts.



"During the first half of 2008, the Corporation completed several reorganizations and consolidations to streamline operations and regulatory relationships. On January 1, Capital One Auto Finance Inc. ("COAF") moved from a direct subsidiary of the Corporation to become a direct operating subsidiary of CONA. In connection with the COAF move, one of COAF's direct operating subsidiaries, Onyx Acceptance Corporation ("Onyx"), became a direct subsidiary of the Corporation. On March 1, the Corporation converted Capital One Bank from a Virginia-state chartered bank to a national association called Capital One Bank (USA), National Association. On March 8, Superior Savings of New England, N.A. ("Superior") merged with and into CONA. Both COBNA and CONA are primarily regulated by the Office of the Comptroller of the Currency (the "OCC"). In May 2008, we consolidated the business and operations of two registered broker-dealers, Capital One Securities, LLC (dba Capital One Investments, LLC) and Capital One Investment Services Corporation (formerly NFB Investment Services Corporation), into Capital One Investments Services Corporation. In addition, in May 2008, we consolidated the business and operations of three insurance agencies, Capital One Agency Corp., GreenPoint Agency, Inc. and Hibernia Insurance Agency, LLC into Green Point Agency, Inc., which is now known as Capital One Agency LLC."

[Martha31]

I would be unhappy if Bigboy leaves

Bigboy offers some great insight on this board and takes the time to answer PMs. I most definitely would miss him and hs knowledge on the forum.
I hope he decides to stay.

[NoMoreCards]

Bigboy offers some great insight on this board and takes the time to answer PMs. I most definitely would miss him and hs knowledge on the forum.
I hope he decides to stay.

I agree Martha31. I hope he stays.