Legal Question in Banking Law in New Jersey
debt collection
can a debt collector legallly take an entire balance from a bank without either written consent? can the bank legally disclose acct numbers to allow the removal of funds without permission from acct holder and if so, wouldn't they have to inform the customer so they would not use the acct and incur further over draft fees What about privacy laws?
1 Answer from Attorneys
Re: debt collection
Once a money judgment is entered in a lawsuit, the judgment creditor (formerly the plaintiff) can ask the court to issue an order (called a writ of execution) that directs the sheriff or another court officer to satisfy the judgment by siezing any property belonging to the judgment debtor that is found within the jurisdiction of that officer. The judgment debtor does not receive any notice of the siezure. Once the property is siezed, the officer will notify the judgment debtor who may then oppose the turnover to the judment creditor if there is good cause for that.
That will happen again and again until the judgment has been paid in full.
See also: http://info.corbettlaw.net/lawguru.htm
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