Posts by Richard Miller9

feraljackal2 said:Are you absolutely certain they aren't allowed to tap into that overdraft?

Well, under the new regulations regarding the enforcement of judgments act, they can collect fines through wage garnishment. This specific law allows them to pull from any account a debtor holds—which means they can even dip into an authorized overdraft. Plus, there isn't really a provision in this law for a protected portion of your paycheck or pension—you know, that one-third buffer we usually rely on?

(Editorially cleaned text, Federal Register, Issue 91/10 and 112/12)

Article 9.

(1) The agency issues an order to the bank to carry out the payment amount required by the order within the timeframe specified in paragraph 10 of this article. The bank fulfills the order using whatever funds are available in the accounts up to the amount specified in the agency's order and notifies the agency accordingly.
(2) Funds provided via an authorized overdraft on the debtor's account based on a bank credit are not considered available funds under paragraph 1.

Hey there!

My bank froze my account and set aside funds to cover an overdraft. Since an authorized credit line from the bank shouldn't count toward my available balance when they're calculating what can be seized, I'm stuck. What’s the move here? How do I actually file an official objection or appeal this?

Thanks in advance!