Wage garnishments and collections
in Law ·
Kimberly Barnes8 said:The note was notarized on October 29th and it’s already officially registered.
Got another question for you guys.
So, turns out my neighbor’s latest Social Security statement shows a credit installment of 1 $0.00 (over at
) meaning the total benefit comes out to $1000 - $333 credit, leaving him with 2 $0.00 for his actual payout.
If he hasn't paid me back by the 10th, I'm taking the note straight to the collection agency.
Now, since they've already frozen 1/3 of his benefits, I'm wondering if the agency can freeze his main account too—like, does that existing credit take a backseat until I get paid?
Basically, does a legal seizure take priority over all those other visible and invisible debts?
Yeah, the IRS is gonna freeze his account, and his Social Security will go into a special protected account, but you'll be sitting right there in line waiting for that loan payment to clear. Once the collection process kicks in, the government is gonna grab interest too. And obviously, if the guy has any savings or money tucked away in a CD, the IRS is going to snatch that up through the banking system immediately...
Best,