Garnishment Practices: Has the Dust Settled or Is It Still Flying? — The Consumer Finance Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
If you've won a lawsuit and obtained a money judgment in Texas, how long do you have to collect this debt? The short answer is 10 years. However, Texas judgments don't simply expire after a set period. They follow a...more
What happens if a defendant does not pay a judgment in Texas? How do you collect the money you are owed? When the court grants you a judgment for monetary damages in a lawsuit, you become a “judgment creditor.”...more
The CFPB and Bank of America have reached a settlement to resolve allegations that Bank of America—the nation’s second largest retail bank—illegally processed out-of-state garnishment orders and misled consumers regarding...more
In a recent decision by the Sixth Circuit’s bankruptcy appellate panel, the court affirmed contempt sanctions against a creditor’s lawyer for violating the discharge injunction in connection with a garnishment. See In re...more
A recent opinion issued by the Sixth Circuit should prove helpful to attorneys facing unsettled issues of state law. As drolly described by the Court, “[a] lawyer sued two lawyers, and each side hired more lawyers. Five years...more
On March 22, 2019, Governor Doug Ducey signed Arizona House Bill (HB) 2230 into law. As described in detail in our recent article, HB 2230 allows judgment creditors to serve writs of garnishment by certified mail, return...more
DC Mex Holdings LLC v Affordable Land LLC and Dale Fuller, ___ Mich. App. ___ (July 25, 2017), Case no. 332439 - Michigan’s Court of Appeals recently issued an opinion interpreting a statutory provision exempting insurance...more
In the course of collections activities, a creditor can become singularly focused on aggressively pursuing enforcement of a debt by levying against the debtor’s property or by demanding and receiving payment from the debtor....more
Executive Summary: ERISA “top hat” plan’s anti-alienation provision does not trump state garnishment laws. A familiar feature of ERISA is its protection of a participant’s retirement savings from creditors; ERISA...more