How often can a credit card company put a garnishment on a personal or business checking account?
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How often can a credit card company put a garnishment on a personal or business checking account?
I recently had a credit card company garnish the balance of my business and personal checking accounts. I understand they have the legal right to do so. I am concerned about how often they can do it so I know what to expect. Every month? Every year? As often as they like?
Asked on September 13, 2011 under Bankruptcy Law, New Jersey
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If you owe money to a judgment crediotr, it can continue to levy upon you bank accounts until the judgment and all accrued interest and costs have been paid in full where you receive a satisfaction of judgment dated and digned by it stating that no more monies are owed.
I suggest that the best way to resolve the situation is for you to try and enter into a written agreement with the judgment creditor where a certain amount is agreed owed and you make monthly payments to pay down what is owed in an amount that you can afford so that you do not need to worry about future levies and if agreed to, make such payments like clock work.
Good luck.
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