Legal Question in Credit and Debt Law in Texas

Bank of America has sued us

We have just been sued by Bank of America for non-payment of a credit card debt. I know they can get a judgement against us. I know they can't garnish our wages, take our house or our cars. Can they take any of our household or personal belongings? What about our 401K? What can they do with our bank accounts? What if we just close our bank accounts prior to the judgement being issued? I know the judgement would be in effect for 10 years. What if during that time we open up other checking accounts? Do they have ways to find that out & seize those? Basically the bottom line is--if our intention is not to pay and a judgement is issued against us, what is the worst they can do to us? Thanks for your info.


Asked on 9/15/04, 9:35 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Bank of America has sued us

A judgment creditor can't seize a retirement account either, but they can seize a bank account and some personal property. The judgment can be rejuvenated every ten years by issuing a writ of execution, so this could be with you for a long time, gaining interest.

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Answered on 9/16/04, 10:02 am


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