No, it's the same account and the new creditor is simply taking over the same rights as the original creditor.
The credit bureaus and the original creditor that filed the judgment are the only ones that can remove it. You can contact the original creditor and try to negotiate removal of the judgment upon payment. You can also dispute the judgment to the credit bureaus and they have 30 days to verify the judgment or it must be removed from your credit report.
Under the full faith and credit law the judgment creditor (holder) can obtain an exemplified copy of the judgment from the clerk of the court in the district where the judgment was awarded.The judgment holder then sends the document(s) to the clerk of the court's office in the county/city and state where the judgment debtor resides. The judgment will then be executed in the manner stated, (garnishment, lien, bank account levy, etc.).Texas does allow bank account levies by judgment creditors. Therefore, a Texas magistrate will sign the "foreign" judgment and canorder it enforced as a bank account levy.
If there is a valid judgment against the account holder, the judgment creditor can levy the bank account to recover the monies owed according to the terms of the judgment and the laws of the state in which the account is held.
Most states allow a judgment creditor to conduct a bank account levy to help collect a judgment. The exact procedures vary by state and they have to be able to find your account somehow.
An individual cannot submit a court judgment to the credit reporting agencies; however the County will report the judgment to the bureaus only by using the complete name and address of the defendant.
If it is a joint account yes, unless you can prove that the money is judgment proof
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
journal entries can be undone by reversing the original entries by credit the debit account and debit the credit account.
Credit bureaus contract agencies to search public records. The judgment is then reported to the credit bureau and the notation is placed in the file of the judgment debtor. False/mistaken judgment entries on credit reports are not uncommon and is a major reason why consumer's should check their report on a regular basis. A civil judgment is entered on a credit report 15 to 30 days after a court proceeding. If the judgment is in fact true in nature, you can negotiate with the creditor to pay them on different terms to keep the judgment off. If the judgment is not yours, you will need to find the state and county in which they were filed and dispute this information with all three credit bureaus.
No, unless the refund is directly deposited into your bank and the credit card company has a judgment and files a lien on your account. Not legal in many states.
Yes. Once an account has been sold it becomes the property of the collector/collection agency that buys it. The collector can then file suit against the account holder debtor for the amount owed and if a judgment is awarded against the debtor it can be enforced in whatever way allowed under the laws of the debtor's state to collect the debt that is owed.
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
You enter the wrong amount You confuse debit and credit You debit or credit wrong account?
No..IRA or just about any qualified retirement account are free from judgments.
The appearance would depend upon whether or not a lawsuit was filed and granted. The original credit card account should appear on your credit, its' delinquent status, history, Date of Last Activity (DLA), zero balance and some indication of sold or transferred. The collection agency account will comprise a 2nd listing, referencing back to the original account and contain the current balance, the DLA (which should NOT have changed), and the dates the track when the account came to be in their possession. If a suit is filed and judgment is granted against you; that would comprise a third listing of this account on your credit report. This would appear in the public records portion of your credit and have the starting date of when the judgment was filed. It has its' own length of time for reporting purposes and would need a legal disposition (a satisfaction of judgment) in order for it be closed. Once a judgment is granted against a consumer, creditors may then undertake any legal remedies available under (your) state's laws. These include wage garnishment, freezing of bank accounts and attaching liens to real property.
none if your creditor has a judgment on you and a writ to do so
If the bank is the one that has the credit card, they can associate the card with the account. This might be a violation of regulation E. However if the bank and the card issuer are not the same, they have to get a judgment and then go to the bank with that.
It has been my experience that judgments from an eviction lawsuit automatically go on a person's credit rating. If you get a money judgment, you should be able to get a judgment lien form from the court clerk and record it at the county recorder's office. Sometimes this is called an abstract of judgment. This should be picked up by the credit bureau's and go on the credit rating.
A credit card company cannot freeze your bank account. However, it can sue you in court for any overdue balance. If the credit card company is successful, the court will issue a judgment lien that the creditor can use to freeze your bank account and seize any money you have on deposit. In fact, the judgment lien can be used to seize any assets you own to satisfy the lien.
Yes, if you are the original creditor and you have an account with any of the three credit bureaus.
Texas allows bank account levy by a creditor judgment. Wage garnishment is only allowed if the creditor does not have any other means of executing the judgment.