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Collect my Court Judgment from Deposit Accounts Lawyers
If you can find your debtor's bank account you have a good chance in collecting what you're owed. You can use any bank account that belongs to your debtor - checking, savings, loans, money market and mutual fund accounts in banks or credit unions.
How Do I Find Banks and Account Numbers?
To seize your debtor's money or contents in a safe deposit box, you need the name of the bank, the branch, the exact name on the account and sometimes the account number. Here are some tips in tracking down your debtor's bank details:
- Approach banks near your debtor ¿ Most people use a bank that is relatively close to where they live or work. If your debtor is a small business that makes daily deposits, they are likely to use a bank near by. If your debtor works for a large company, a state institution or is a labor union, try to find out if there's an affiliated credit union.
- Check your papers - If you have a copy of a check written by the debtor, you can easily find the bank and the account number.
- Write the debtor's business a check - If the debtor is or has a business, you or someone else can buy something from the business with a check, and you will find out the debtor's bank when they stamp deposit the check.
- Ask business associates of your debtor - Sometimes business associates of the debtor will share information with you.
Once I Have Some Possible Banks How Do I Get Confirmation?
Most banks are very concerned about the privacy of their costumers. However, sometimes if you're lucky, bank representatives will help you confirm that your debtor has a bank account at that bank.
How Do I Get my Money once I've Found the Account?
It-s the finding of the account that is problematic. Once you've found the bank account you can go to the sheriff or other local official (called a "levying official") with the information about the debtor's bank accounts. The levying official collects the money and gives it to you.
Are There Funds that are Exempt?
Some money in an account is protected from creditors. If you try to collect from an account it is up to the debtor to object in court and prove that the money came from an exempt source. Certain sources of cash are exempt, in part or in total: wages, public benefits, retirement plans, insurance proceeds. (link to: What are the legal limits in what I can collect)
What Happens if the Account I,m Seizing is a Joint Account?
There two different scenarios if the account is held by others besides your debtor:
- If you find an account that belongs to the debtor and his/her spouse, than the account can be levied. However, the spouse has a right to object.
- If the account is in the name of the debtor and someone else that is not his/her spouse, you may not take from the other person¿s funds. You can usually assume that each account holder is entitled to an equal share of the account.
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