Pennsylvania Law on Seizing of Assets and bank accounts
Date: Fri, 02/27/2009 - 09:22
Thanks in Advance.
PA's statutes are very difficult to navigate. Here's a link to
PA's statutes are very difficult to navigate. Here's a link to the legislature:
http://www.pacode.com/secure/browse.asp
They cannot garnish wages but can't find the rest of the exemptions. Here's some nore info:
Interest Rate: Legal:6% Judgment:6%
Statute of Limitations
Open Acct:4 ?? 5525
Written Contract:4
Domestic Judgment:5 (writ of revival within 5 yrs.)
Foreign Judgment:4
Lien against real estate 5 yrs
Personal property Ex:20 yrs.
Bad Check Laws (civil penalty): After demand and judgment triple damages in amount equal to $100 or 3 times the check amount whichever
is greater up to $500.
General Garnishment Exemptions: 100% of wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300
Exemptions: In general, a debtor may claim exemption of certai
Exemptions:
In general, a debtor may claim exemption of certain personal property from attachment or execution or forced sale for the payment of debts. The Pennsylvania Consolidated Statutes contains no provision for homestead exemption.
Pennsylvania does not permit waiver of the exemptions from attachment or execution granted by statute by the debtor by express or implied contract before or after the commencement of the matter, the entry of judgment or otherwise. (42 Pa.C.S. ?? 8122.) A judgment debtor generally is entitled to exemption from execution certain general monetary exemptions up to $300 in bank notes, money, securities, real property, judgments or other indebtedness due the judgment debtor. (42 Pa.C.S. ?? 8123.)
Particular enumerated items of personal property which may be exempt may include goods such as wearing apparel, bibles and school books, sewing machines belonging to seamstresses or used and owned by private families, but not including sewing machines kept for sale or hire, and uniforms and accouterments; qualified retirement funds and accounts, pension or annuity, insurance proceeds, social security benefits, and workers' compensation benefits. (42 Pa.C.S. ?? 8124.)
