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I just found out that my bank account was levied through a court order for an old car loan of $3200. How do I proceed?
Los Angeles, CA
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Posted 3 months ago in Debt Collection
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The debt collection agency obtained a judgment to levy my bank account but can they also garnish my wages at the same time? Or, will that be their next step? I called my bank to get more information but they were not very helpful. They told me to call a toll free number which I did but the office was already closed. By law, does the bank have to provide me with the court order? I don't know what to do. Should I try to settle this on my own with the debt collector or seek legal help? Thank you for your advice.
Additional information
I also have a school loan that gets automatically withdrawn from my account each month. Is that amount exempt? Also, before I found out my account was levied, I had written 2 checks and made a charge that had yet to clear. What am I to do about this? I'm sure my checks will bounce and I will incur additional charges. Is it worthwhile to contest? And, if I can try to get a hold of the entire loan amount, should I just pay it off? Or, should I try to settle the amount? One more question, is the Legal Processing Fee of $100 that was debited from my account a charge from the bank or authorized through the court order? Answers (1)
Steven Alan Fink
This attorney is licensed in California.
Posted 3 months ago.
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The $100 fee is your bank, not the Court order. The debt collection agency can garnish your wages, levy on your bank account and attempt to seize any other property they find to satisfy the judgment. If the bank levy poses a financial hardship you can file a claim of exemption. However, for $3200 your best bet might be to make an offer to settle. If that does not work, you can always change bank accounts.
Disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change.
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