Asset Acceptance v Harris, Robert
Jul 26, 2006OUTCOME: Reversed and remanded in favor of client creditor
Represented creditor on appeal to the Saginaw County (MI) Circuit Court. Trial court had held that all funds in a debtor's bank account, regardless of source, were exempt from garnishment as they had ... been commingled with funds traceable to Social Security. In absence of controlling MI case law, argued that funds should be allocated to exempt and non-exempt sources on a pro-rata or FIFO (first in, first out) basis. Court reversed and remanded to trial court with order that FIFO principle be applied to determine which funds were subject to garnishment.
