Time Limits on Liens

Discussion in 'Credit Talk' started by Trilivonel, May 23, 2003.

  1. Trilivonel

    Trilivonel Well-Known Member

    Are there time limits on how long a lien can be placed on bank accounts after a default judgment? How soon can funds be seized from those accounts? If you're in court fighting the judgment, is that a factor in the funds being deducted from your account?
     
  2. lbrown59

    lbrown59 Well-Known Member

    If you're in court fighting the judgment, is that a factor in the funds being deducted from your account?
    Trilivonel |
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    Wouldn't that put a freeze on the judgment until the court case was resolved

    THE END ** *** ** LB 59
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  3. Trilivonel

    Trilivonel Well-Known Member

    I'm not sure. The first default judgment was entered in 11/02 and the second default judgment was entered in 12/02. I have three accounts (two w/Chase and one w/Washington Mutual). The funds were debited from Chase even before I could go to court and dispute it. The other account with WA Mutual still hasn't been debited. I don't even know what Marshal seized the funds out of the Chase account so I couldn't even serve the Marshal's office. So, would you or anybody else know what is the time limit on a lien?
     
  4. erik776

    erik776 Well-Known Member

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  5. erik776

    erik776 Well-Known Member

    A judgment is in legal force for the period specified under the state the judgment was obtained. In some states that can be up to 20 years. In some states judgments can be renewed but they rarely are.

    Now, a lien is placed against property, a "levy" is used to take funds from accounts that have liquid assets such as bank accounts. They can take funds from your bank account as long as the judgment is in existence. The fact that you are in court makes no difference unless and until you win.

    Good luck Erik776
     
  6. Trilivonel

    Trilivonel Well-Known Member

    Thanks for the info. I have another question. Why would a CA only put one lien on one account, another on another account, not both lien on both accounts? Moreover, why would a CA seize one account in less than a month after one bank received the restraining notice but as of today, have not seized the second account? The funds in the first account were no way near the default judgment amount they were rewarded.
     
  7. erik776

    erik776 Well-Known Member

    I don't know. Perhaps they need a separate lien for each account.
     

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