Bank Garnishment and What Can I Do?

TYPES OF BANK GARNISHMENTS

  •  Bank Garnishment. Takes your money on hand up to the judgment amount;
  •  Citation  to Discover Assets of a 3rd Party (Your bank). Not only takes money on  hand but any deposits thereafter. So if you get paid through direct  deposit they can grab that too.

AMOUNT YOUR BANK WILL FREEZE

The  law requires that the bank freezes double the amount of the judgment.  For example: judgment is $3,000 the bank will freeze $6,000.

JOINT ACCOUNTS

The  law presumes all funds are yours. The joint account owner has the  obligation to file a motion and proof the funds are his or hers.

EXEMPTION

Illinois  allows an exemption of $4,000. However, the burden is on you. You  should appear on the return date to claim the exemption. If the return  date is far off you can file a motion and when heard claim your  exemption.

Limitations: CAN’T TAKE. The following is for funds deposited within the last 60 days

  •  Public Aid/Link/Snap benefits
  •  Social security benefits
  •  Unemployment benefits
  •  Worker’s Compensation and Black Lung payments
  •  Support and alimony
  •  Pensions
  •  Veteran’s benefits
  •  Funds from the sale of a home or a personal injury settlement (subject to allowable exemption limits)

BANKRUPTCY

Filing Chapter 7 or Chapter 13 should stop the garnishment.

DISCLAIMER

Articles  are not to be regarded as legal advice; only general information. If  you are considering filing Bankruptcy you should consult a lawyer.  Hopefully you will Robert J. Adams & Associates.

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