Garnishment of Business Debtor’s Merchant Credit Card Account

Jon Alper Writ Of Garnishment

Small business that accept credit cards do so through bank “merchant account.” The bank processes credit charges through the business’s merchant account, and then it credits the charge amount less processing fees to the business’s bank account. The merchant account may be processed through a bank different from the business’s primary checking bank.

Be Careful Not To Waive Exemption From Wage Garnishment

Jon Alper Writ Of Garnishment

I would like to clarify the head of household exemption from wage garnishment. To often, clients assert during our consultations that they know their wages cannot be garnished because they are “head of household.” It’s not that simple because debtors can waiver their head of household protection in writing.

Florida Debtor’s IRA Garnished In Another State, Again

Jon Alper Writ Of Garnishment

I consulted with an asset protection client who was moving to Florida from Tennessee where he had previously set up an IRA with a bank’s investment department. I suggested that the client relocate the IRA to a Florida financial company or open an IRA with a national financial firm at its Florida office.

Writs Of Garnishment Are Directed At Your Bank And Not At Your Bank Account

Jon Alper Writ Of Garnishment

Judgment debtors frequently maintain multiple bank accounts at particular banks. Some accounts may be in the debtor’s individual name and subject to the creditor’s writ of garnishment. Other accounts may be exempt joint accounts, wage accounts, or even accounts in the name of a separate, non-debtor  business entity for which the debtor has signature authority.