sweeping accounts
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sweeping accounts (by 6x6 [TN]) Jul 10, 2019 6:42 PM
       sweeping accounts (by Laura [MD]) Jul 10, 2019 7:23 PM
       sweeping accounts (by BRAD 20,000 [IN]) Jul 11, 2019 1:49 AM
       sweeping accounts (by myob [GA]) Jul 11, 2019 7:15 AM
       sweeping accounts (by S i d [MO]) Jul 11, 2019 7:56 AM
       sweeping accounts (by 6x6 [TN]) Jul 12, 2019 11:51 AM
       sweeping accounts (by 6x6 [TN]) Jul 12, 2019 12:01 PM

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sweeping accounts (by 6x6 [TN]) Posted on: Jul 10, 2019 6:42 PM

You guys and gals post on here sometimes about sweeping bank accounts.

How do you do this?

When do you do this? I think there was mention of it being years later.

Is there a limited time frame?

What if you don't know what banks or credit unions they use?

Is there a way to find out?

I am assuming you have to have a judgement. Is there a certain form you have to have? Is it from the court?

My first tenants I had 8yrs ago failed to pay rent on time and then abandoned the house. They still owed me for six months on the lease. I took them to court and sued for remainder of lease. Long story short, I had to go back to court a few times. One reason was judge recommended arbitration which I knew was going to be a waste of time and it was. Needless to say tenants did not keep there end of the bargain. Back to court I went. I got a judgement and the judge told her to pay $50 a month. She paid 2 months to the court and when I checked the third time she did not pay. Then I garnished the woman's wages as the husband no longer was working. She filled bankruptcy and that was that. Later she cancelled the bankruptcy but the court never reinstated my garnishment. I think the court ripped me off but I don't know how these things work. So I wish know that I knew how to sweep accounts but it has probably been to long and I have no clue what banks or credit unions they use if any. They always paid cash. I think I just realised why accepting cash is a bad idea. I was an idiot and did not screen properly and had absolutely no clue what I was doing(not that I do know).

Thank you all for your time and words of wisdom. --73.120.xx.xxx

sweeping accounts (by Laura [MD]) Posted on: Jul 10, 2019 7:23 PM

Go back and garnish her wages again. The court was not responsible for reinstating the garnishment, you were responsible for doing that reinstatement. Don't for get to add the insterest due on the garnsihsment.


sweeping accounts (by BRAD 20,000 [IN]) Posted on: Jul 11, 2019 1:49 AM


Find her new employment (Facebook is wonderful for this!) and give that employment info to the court in a letter.



sweeping accounts (by myob [GA]) Posted on: Jul 11, 2019 7:15 AM

we just sweep 22 banks in metro ATL and low and behold BINGO the lady's credit union (it's ours also) has sent the check to the court 6,000.00. The cost of the sweep was 300.00 in mailings------------ tell me WHATS MY RETURN? and don't say it's not worth it!!!!!! You read it right 6K not 6.00 not 60.00 not 600.00!!!!! --99.103.xxx.xxx

sweeping accounts (by S i d [MO]) Posted on: Jul 11, 2019 7:56 AM


A little more information, some of which may vary state by state.

In Missouri, a judgment is good for 10 years. During that time, I may employ and/all legal means necessary to collect the money. This includes:

1) Garnishee wages. This is done via the Sheriff's office. We submit the paperwork, and the Sheriff delivers it to the employer. The employer forwards the money to the court, who distributes it to us via our attorney's office.

2) Levy bank account. Same process with the Sheriff, except they deliver the order to the person's bank. At that point, their account is "frozen". Money can still come IN, but it can't go OUT until they've paid us. It can mess them up severely and is much more powerful at getting you paid all at once. Few people will quit their job over a 2-3 week freeze. They might--however--redirect their paycheck after they figure out what has happened.

3) Till tap. If they own their own business, the Sheriff can show up and take the cash out of their cash register/cash box. Never tried this one since we don't rent to self-employed.

4) Send it to a collection agency, who will then do all of the above and/or just hound them for payments and keep dinging their credit report each month or two. Most expensive process as they often charge between 30-50% of the amount collected, but also one of the most effective if you've completely lost track of them. They have access to proprietary databases and can "skip trace" people continually to find where they live, work, and bank.

So...you asked for the time and I built you a clock.

. --107.216.xxx.xxx

sweeping accounts (by 6x6 [TN]) Posted on: Jul 12, 2019 11:51 AM

Thank you all for the information.

The thing I hate about this is that it makes me very anxious. I was really angry over it then and am getting anxious now. I guess I should just chill. I am learning more about this now so no reason to get excited.

I just contacted the court this morning and the lady told me that the judgement was good for 10yrs. She also said that there was no report of her filing bankruptcy on file but could not tell me why. She said the file showed were the judge stopped the agreed upon payments and that stopped the garnishment. I really don't understand that. She said if I could figure out where the tenant works that I could reinstate the garnishment.

I really had no clue what I was doing back then(not that I do now). I just Googled the tenants name to get general free information this morning. It gives what is supposed to be her current address. She has a lot of previous addresses, however mine and the one she listed on the court documents are not showing. It also list names of relatives and friends and associates most of which it says have criminal records including her. It also list several other names she has gone by. I don't think it would be worth my money at this point to do a background check as I might get enough information for free. It gave her current employment as a manager for the city's park and recreation department. REALLY! I called the city and am trying to get employment verification. I am currently waiting on them to call me back. I really don't know how else to find out her employment. I wish I would have done a good job screening back then. Oh well that ship has sunk. The judgment was on both her and him(husband) at that time so I guess now I will try and look him up. I also don't know how to find out where they bank.

Myob, is there certain legal papers that you sent to these banks? What did you put in the letter? How long did it take for the credit union to respond? Did you call the court to see if anyone sent anything or did they contact you? Is there a period of time the court holds the money before sending it to you? Thanks.

I might try the collection agency route if I can't get enough information. --73.120.xx.xxx

sweeping accounts (by 6x6 [TN]) Posted on: Jul 12, 2019 12:01 PM

Also when I filled for garnishment originally they told me I could charge 10% interest but again I did not know what I was doing and still don't know the proper way to file. What I did was tact 10% onto the remainder of the lease. They owed me 6 months at $700pm. After the very little bit of money I did receive there was a balance of $4449.00 on the docket. If I try to reinstate the garnishment is this what I get or do I get to tack on interest from that time till now? --73.120.xx.xxx

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