Legal Question in Credit and Debt Law in Virginia

My wife and I have a joint banking account that was recently garnished by a creditor for almost $7,000 in which we only had roughly $500 in it at the time. We had our entire savings down to the penny in the account and our last two full paychecks was direct deposited into the bank accounts the same day it was garnished so we basically lost every penny to our name.
My understanding is that creditors can only take 25% of a payroll check just so people will still have something to live on afterwards, but we have nothing after this. Is there something we can do to get some money back legally??

Asked on 9/08/10, 10:17 am

Michael Hendrickson Law Office Michael E. Hendrickson

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Yes, the 25% limitation for a garnishment (after all mandatory deductions) applies to a judgment debtor's wages paid by an employer. However, once

the wages are deposited into a bank account, whatever is in the account can be

seized (levied upon) by the judgment creditor in order to satisfy the judgment.

Answered on 9/13/10, 5:35 pm

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