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A little bit of background on my situation:
Long story short, I had a business deal that went sour during the economic crash, and I am now trying to dig my way out. Slowly but surely.
I had two vehicles. One (that has been subsequently Repossessed) was financed through Ford Motor Credit as a lease. The other vehicle (Which I still have, and am making on time payments) Is financed through Huntington bank as a loan.
I am being sued for repossessed vehicle from Ford Motor Credit. Ford credit has sued me in court and won a judgment against me for around ,000. Today, I received a "Notice of Garnishment property other than personal earnings", with the description of the property/bank account reading "HUNTINGTON BANK" for "ANY AND ALL MONIES IN THE NAME OF THE JUDGMENT DEBTOR" . I am kind of confused as to what Ford Credit wants from Huntington? Can Ford Credit take my vehicle that is on a loan from Huntington even though I do not own it? My Huntington account is for an auto loan and not a deposit account, Thus, No money to take.

They want me to answer within five business days as to whether I Huntington is in possession of garnish able properties or monies. I am not sure how to answer.

Hoping someone can help me out with this.
I am in Ohio, if that helps.

5 Comments »

1. 

   Auto finance is what I do for a living and all they can do is file a lien on the vehicle they can not take it.

   The only thing is you can’t sell it without paying the lien first.

   Comment by SPIFIMAN1 — July 13, 2011 @ 9:02 am

2. 

   They can not take it as you yourself stated because you don’t own it. Pay off the judgement as quickly as you can. Good luck.

   Comment by sarahsmile90 — July 13, 2011 @ 9:02 am

3. 

   No because you are financing the vehicle they hold the title you do not it is not yours to give if you wanted to.They can garnish your payroll or bank account and cause you to not be able to make payments.I recommend you do not do direct deposit or hold large sums of money in your bank account until you work out payments.

   Comment by sarah — July 13, 2011 @ 9:02 am

4. 

   Re-read your sentence that starts "They want me…". Do what it says. Answer YES or NO. This isn’t rocket science.

   Comment by Common Sense — July 13, 2011 @ 9:02 am

5. 

   They simply listed every conceivable asset you may or may not have. Contact them, offer them $3000 and get it in writing. They’ll take it.

   Comment by Love big words — July 13, 2011 @ 9:02 am

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