Bank levy question...

they dont go thru your credit report...they basically send levy orders to all the banks in the area you live until they get a hit.

Even better then. I'm with a credit union in another state.
Thanks for the reply. :)

- Dana

Hi,

If the courts order a levy, they send a notice to the bank, and the bank needs to honor that. If they don't, they can be sued by the courts. Well, this can be only done if the court orders,What actually happens is that the court takes out the entire balance leaving just $1.The only thing he can do is to have a word with the bank and get a copy of the levy order.

You should look into the judgment you knew nothing about! You have the right to be present at court and likely whatever company did this did not serve you properly. You should find out what court they did this and see about getting that jugement vacated.

Different states have different laws for finding banking information. For example, if you are in Texas, they can appoint a receiver who can get a court order to intercept your mail to find out where you bank or to subpoena your utility provider to get a copy of the last payment to find your bank account. Your state might also have a method for getting a new trial so you have a chance to make that judgment go away when you were not served notice of the lawsuit.

What law is that Joe? I need to go look at that law! I have not heard of that and Texas is pretty pro consumer.

I'll have to spend some time finding the receiver statute but should be able to post it by tomorrow.

goldenblast, I found the law. It is in the civil practice and remedy code 31.002(b)(3). It is called a turnover statute and it allows for a receiver to be appointed by the court when there is a judgment.

I talked to my lawyer who defends consumers on this stuff. He said the statute gives the receiver a lot of power to get information from third parties like business associates, banks, IRS, etc. so they can find the nonexempt assets or more importantly bank account information. He said the most important thing to remember is that most of these lawsuits on credit cards and other consumer debts, in this part of Texas anyway, are defendable. He also said a lot of the consumer debts can get wiped out by pursuing claims for illegal collection actions, so if a person is pursuing their rights and defending the lawsuits, they probably won't have a judgment against them, and without a judgment, the creditor can't use the turnover statute to get a receiver appointed by the court.