How to prevent bank account siezure?

[maxwell18]

Is there anyway to prevent somebody siezing your bank account if you cannot be garniched (sp) please forgive spelling. Can I write a letter to my credit union telling them my income cannot be garniced. This is because I stopped paying my C/C.
Thamks

[frogger]

Just because you stopped paying your card doesn't mean that your account will get levied. They will need to sue you, obtain a judgment, and then go after the account.

From what I've seen, it doesn't matter what you tell or write to the bank. If the sheriff department serves the bank with the order on the account, it will be frozen.

In our area, it is frozen for 45 days, during which you can settle your bill and have the account released, or if your bill is not paid, at the end of the 45 days, your money will be seized and used to satisfy the judgment.

[SweetGeorgia]

Take your money out of that account! You can have your paycheck direct-deposited into a prepaid Mastercard, or get an actual pay CHECK and cash it if the bank is local. (I like the MC better because I can pay bills online with it and it is so much cheaper than any bank account I've had!)

Around here, I've seen the sheriff's deputies waiting at the bank on Friday afternoon to serve a bunch of garnishments. That can happen very quickly after a judgment against you is entered (possibly before you know about the judgment).

[Tartbird]

What about opening a new checking account that doesn't use Chexsytems or whatever it is called when you open it? Would that make it harder to grab that account?

[frogger]

What about opening a new checking account that doesn't use Chexsytems or whatever it is called when you open it? Would that make it harder to grab that account?

They all use Chexsys. Any bank account can be found by any company that subscribes to the right services. Not all companies however, qualify to subscribe to those services.

[Tartbird]

Maybe I got mis-information. I did a google search and it showed several banks and credit unions that did not use chexsystems when opening new accounts.

Maybe that was an evil trick by a collection agency???

[frogger]

Don't believe everything you read on the internet.

[GoingDown]

Just remember, if you are facing a lawsuit, never keep more money in your checking account / savings account than you can afford to lose.

And remember, even if you only have one dollar in that account, if they try to garnish it, your bank will charge you some hefty fees for responding to the garnishment. Suddenly, your checking account / savings account may become negative.

If you have assets or income to protect, then file bankruptcy as soon as possible.

If you don't, then try to become as judgment proof as possible, which includes closing down all checking and savings accounts, because none of them are truly safe after you have a judgment against you.

[Jackdog]

I have closed my checking accounts as of this week. I cashed my paycheck today at Walmart. Felt kinda weird to do but thats how things have gone. It cost me 3 bucks. I'm cash only now. Walmart, as much as I hate the place, you can pay just about any bill there.

[maxwell18]

followup bank account

Can anybody tell if your income is social security, military retirement, va disability can they sue and WIN sieze your bank account and take your money and how will that work taking funds that cannot be taken?

[WhatMoney]

Can anybody tell if your income is social security, military retirement, va disability can they sue and WIN sieze your bank account and take your money and how will that work taking funds that cannot be taken?

You asked the same question on Feb. 2, and it was answered in some detail in this thread:

http://www.bkforum.com/showthread.ph...rity+exemption

What else do you need to know?

[maxwell18]

nfo

I didn't see that info or didn't remember. Sorry I bothered you.

[ryan]

Just remember, if you are facing a lawsuit, never keep more money in your checking account / savings account than you can afford to lose.

And remember, even if you only have one dollar in that account, if they try to garnish it, your bank will charge you some hefty fees for responding to the garnishment. Suddenly, your checking account / savings account may become negative.

After a lot of research, I have to agree. This is the only truly SAFE alternative.
Having any bank acct anywhere, is rolling the dice. I expect a judgment coming against me in the next few months and will do exactly what GoingDown says.

[catleg]

I wouldn't get too paranoid about it, however, I would not be complacent about it either.
The main reason Chexsystems is used, oddly enough, is to keep track of checks. So among other steps I would take if I opened a new account is to refuse check printing. It's a waste of money anyway.