How does a lawyer or collection agency get information on where you have a bank or credit union account?
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How does a lawyer or collection agency get information on where you have a bank or credit union account?
What if it’s a direct deposit for social security check only; never used for paying bills.
Asked on October 9, 2010 under Bankruptcy Law, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Well lets start off right off the bat with this: social security payments are exempt from attachment by a judgement creditor. So we need to also concentrate here on protecting those funds. Once a judgement is entered a creditor serves an Information Subpoena to find out the debtors assets. If the subpoena is not answered within 7 days then the creditor may commence a contempt proceeding. Under New York State law the money up to $2500 isexempt as long as it is done through electronic transfer. The problem is when exempt funds are co-mingled with non-exempt funds. What you should go to your bank and file an Exemption Form that puts the bank on notice . Seek help if you can here on this matter to resolve it once and for all so that you do not have to look over your shoulder all the time. Good luck.
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