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Yes! The creditor is allowed to collect their attorney fees, sheriff/marshal fees, and court costs. These additional expenses are added to the debt and will be required to be paid before the debt is deemed satisfied.
Understand the Fees and other cost during the Debt Collection Process
Debts continue to bear various fees, costs and interests if you fail to make the proper monthly payment. As a result, your bill can increase significantly as you go through the collection process. This is true even if you make payments on the bill since the carrying costs against you can build up faster than any payment can reduce your bill. This is an important truth that needs to be addressed in an overall plan for comprehensive financial recovery.
Yes! In Connecticut a judge can award up to 10% post judgment interest which will continue to accrue until such time as the judgment is satisfied. This interest will often be paid first by payments and can substantially elongate the time needed to pay off the judgment.
You can sell your property even if there are recorded judgment liens on the property, however, those liens must be paid in full either prior to your closing or at the time of the closing.
Yes! A bank execution is valid even on joint accounts with others who are not party to the action. As long as the Defendant’s name is on the bank account the levy may be proper. There are specific defenses to a bank execution and you will want to speak with a licensed consumer debt attorney to know your rights and defenses.
You have 15 days from the date of the bank levy to file paperwork to object to the levy. Once filed your bank will hold the funds until you go to court to have your objection heard. The filing of a bankruptcy will stop the levy from occurring and the funds will be returned to you.
If you fail to take action timely the funds will be transferred to your creditor and you will not be able to get them back even if you have a valid defense to the levy.
“My experience was a very positive one. Dealing with Neil Crane and his staff was the best decision that I could have made. Neil has helped me get back on a solid financial path. My case was a tough one and the Neil Crane Law Firm was the best Law Firm I could have chose.
Thanks for all the help. Now I can put all my bad choices behind me and move forward in my life.”
Mark Linhard
