Legal Question in Credit and Debt Law in Indiana
capital one
hello we owe a capital one credit card and they turned it over to morgan and pottinger a debt collection agency and we recieved a letter last week where we are to appear in court the end of next month to make payment arrangements and out of the blue last friday the 13th they took all our money out of our bank account and left us with $6 in the whole and they didn't tell us they were doing that by rights do they the right to do that?
2 Answers from Attorneys
Re: capital one
The short answer to your question is that they may well have the right to that - even though it is not at all fair to you.
Morgan & Pottinger is a law firm with headquarters in Louisville, Kentucky. A big part of what they do is collect debts for clients. Based on what you have posted, it appears that they have sued you, obtained a judgment against you, sent you notice to appear for a post judgment examination in which they will try to find assets of yours to seize to pay the judgment, and then seized the money in your bank account to go toward the judgment.
They will continue this process until you have paid the debt plus interest, attorney fees, court costs, etc. Depending on the size of the debt, and depending on your other financial circumstances, you may need to consider bankruptcy. Otherwise, that law firm will likely continue to hound you until it gets everything it thinks it and its client is entitled to get.
Re: capital one
It sounds like your letter was a Motion for Proceedings Supplemental to Execution. Which means that they probably have started garnishing your bank account. They have a right to do this because they have a judgment against you. You might take a closer look at your "letter".
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