QUESTION
Is it allowed that a garnishment be taken out of your bank account?
Asked on Oct 01st, 2013 on Bankruptcy - Michigan
More details to this question:
The wages are being garnished; can they take all of your money out of your bank account?
11 ANSWERS
2 Awards
Yes they can. There may be exemptions that you can claim. You need to look into it right away and make the claim.
Answered on Oct 03rd, 2013 at 5:36 AM
Yes minus any amount properly claimed as exempt.
Answered on Oct 02nd, 2013 at 7:43 PM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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Yes, the creditor can sieze and take money from a bank account. However, in Illinois, you have certain "exemptions" or amounts you can protect. It is best to speak with an experienced attorney to discuss your options in defending this, or in Bankruptcy.
Answered on Oct 02nd, 2013 at 1:30 PM
Bankruptcy and Creditor's Rights Attorney serving Walker, MI
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Mary Saur Cohn, PLLC
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In Michigan, your bank account can be garnished. There is sometimes a basis to object to the garnishment which you would have to do through the state court. If a bankruptcy case is filed after any type of garnishment, you can many times get the garnished funds returned to you depending on the amount garnished and if you meet other criteria.
Answered on Oct 02nd, 2013 at 12:26 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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A judgment creditor can garnish the entire bank account. However, you might have a claim of exemption to challenge the garnishment. If the bank account is held as husband and wife and the judgment is only against one spouse, you might be able to claim the property is held as tenancy by the entireties which is not subject to the claim of the creditor. If you are the head of household with dependents, and if the bank account is from your wages, you can claim the account is exempt. Finally, there is a bankruptcy case that interprets the Florida statute to protect 3/4th of the wages account for a single person. A claim of exemption must be filed with the court. The creditor should be mailing you this notice with the notice of garnishment.
Answered on Oct 02nd, 2013 at 12:26 PM
Chapter 7 Bankruptcy Attorney serving Salt Lake City, UT
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Linda D. Smith, P.C.
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Yes, a creditor with a valid judgment can garnish wages, bank accounts and even attach your property depending upon the amount of the judgment and type of asset.
Answered on Oct 02nd, 2013 at 11:39 AM
Deborah F. Bowinski
You may have the ability to object to the garnishment of the bank account and claim exemptions, but the exemptions available depend upon the state in which you live. You may wish to consult with a bankruptcy lawyer if you also have other debts you are struggling with.
Answered on Oct 02nd, 2013 at 11:18 AM
It is not called a garnishment when money is taken out of your bank account for a court judgment, it is called an attachment or a levy. But a creditor can clear out your bank account, although you can apply that a portion of the money (up to $1,000) be protected under a state exemption. If the money in the account comes entirely from another protected source, you may also claim the money in the account as protected. However, you must act quickly to claim these protections under the state exemption laws.
Answered on Oct 02nd, 2013 at 10:49 AM
bankruptcy Attorney serving Paul, ID
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Paul N. J. Ross Law, PLLC
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Various types of garnishment exist. The most common are wage garnishments which take money from your paycheck. The next most common are garnishment of bank accounts and other financial institutions. Yes, money can be garnished from a bank account. It is your job to assert a claim of exemption against the money taken from your account to receive any of it back.
Answered on Oct 02nd, 2013 at 10:30 AM
Litigation Attorney serving Stockton, CA
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Patrick Jay Edaburn
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If they have a judgement against you then they can attach bank accounts. If you file bankruptcy this would eliminate the debt (presuming it qualifies)
Answered on Oct 02nd, 2013 at 10:06 AM
Divorce Attorney serving Bingham Farms, MI
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Gottlieb & Goren, P.C.
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Yes, garnishment of your wages does not stop garnishment of your bank account.
Answered on Oct 02nd, 2013 at 10:03 AM