Legal Question in Business Law in Florida

bnak garnishments

I'm a barely surviving small manufacturing business owner with a bank garnishment on my business account. The garnishment is in the amount of $11,000.00. The balance of the account, when the garnishment attached, was $2,500.00. That money has a hold on it. The account shows a transaction hold of $22,000.00. How am I supposed to stay in business if I can't make deposits or pay my vendors?

Can another account be opened in another bank? Will they be able to garnish that account? As I understand it, the garnishment is for one year. At the end of that year, will the bank issue a check to that company for $2,500.00 or release the garnishment in full, for not having the full amount of the garnishment in the account? Also, how can the bank put a transaction hold on the account for more than the garnishment.

At this time we are unable to pay them in full, we have tried to work something out with them, with out any type of positive response. Is there any we or they can reverse the garnishment, without paying in full? Is there any way we can recover any of our loss during this unfortunate situation?

We appreciate any information you can provide to us and thank you for your time.


Asked on 10/31/08, 11:51 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: bank garnishments

You can open another account with another Bank. If they find that, they can garnish that account, however. The Garnishment is not a one year command. Go sit down with the bank. A garnishment garnishes what the person (in this case, the bank) owes to you at the time of the garnishment.

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Answered on 10/31/08, 12:43 pm


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