What happens if a bank account is garnished for an amount more than the available balance?
tkessandoh asked:
My friend just got his account garnished today by american express for $19,800. He only had $400 in the account. Now is HSBC bank account balance is (NEGATIVE) $19,400. Does that mean American Express got there money and he owes HSBC? Bank?
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My friend just got his account garnished today by american express for $19,800. He only had $400 in the account. Now is HSBC bank account balance is (NEGATIVE) $19,400. Does that mean American Express got there money and he owes HSBC? Bank?
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more times then not he now owes the bank not American express
Holy crap. I dont think a bank would do an over draft for 19K …. wow… thats a new one. They more than likely didnt take it unless he normally has a large amount in his bank account.
Man that means the D.A. can come after him for theft if he doesnt pay that bank back. Surely that wouldnt happen but in todays world the law is on AMEX side.