Comments on: What happens if a bank account is garnished for an amount more than the available balance? http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/ Best Banking Market Resource | Financial Blog Thu, 30 Sep 2010 04:03:35 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: sasil85 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/comment-page-1/#comment-219 sasil85 Sun, 14 Mar 2010 19:22:40 +0000 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/#comment-219 No. What will happen is the item will be returned. Basically the money isn't there so it has to go back. The bank isn't going to cover a tab that big. So he still owes American Express. Might want to tell them to stop doing that or else he is going to get hit with fees. No. What will happen is the item will be returned. Basically the money isn’t there so it has to go back. The bank isn’t going to cover a tab that big. So he still owes American Express. Might want to tell them to stop doing that or else he is going to get hit with fees.

]]> By: Andrea T http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/comment-page-1/#comment-218 Andrea T Fri, 12 Mar 2010 21:33:19 +0000 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/#comment-218 Your friend needs to check with the bank tomorrow. More than likely, because it hit on the same day, that is why it is showing a ridiculously overdrawn amount. Someone probably just got the notice an put a hold on the account for the amount of the notice. Obviously, they can't take more than is there. Your friend needs to check with the bank tomorrow. More than likely, because it hit on the same day, that is why it is showing a ridiculously overdrawn amount. Someone probably just got the notice an put a hold on the account for the amount of the notice. Obviously, they can’t take more than is there.

]]> By: STEVEN F http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/comment-page-1/#comment-217 STEVEN F Thu, 11 Mar 2010 02:38:11 +0000 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/#comment-217 The bank messed up. a garnishment CAN'T overdraw the account. On the other hand, if any money goes into the account, it belongs to AMEX until the full amount of the garnishment order is satisfied. One 'exception' to the above is if there WAS $19,800 when the garnishment hit, and the overdraft resulted from OTHER transactions that hit after the garnishment. The bank messed up. a garnishment CAN’T overdraw the account. On the other hand, if any money goes into the account, it belongs to AMEX until the full amount of the garnishment order is satisfied.

One ‘exception’ to the above is if there WAS $19,800 when the garnishment hit, and the overdraft resulted from OTHER transactions that hit after the garnishment.

]]> By: Stephanie http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/comment-page-1/#comment-216 Stephanie Tue, 09 Mar 2010 04:32:33 +0000 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/#comment-216 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. 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.

]]> By: jennifer http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/comment-page-1/#comment-215 jennifer Sat, 06 Mar 2010 21:58:36 +0000 http://bankfly.com/214/what-happens-if-a-bank-account-is-garnished-for-an-amount-more-than-the-available-balance/#comment-215 more times then not he now owes the bank not American express more times then not he now owes the bank not American express

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