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Re: Jk this explains why we lose our bank accounts in tx/NT


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Posted by JKelly (151.197.123.138) on June 04, 2004 at 19:39:34:

In Reply to: Jk this explains why we lose our bank accounts in tx/NT posted by catballou on June 04, 2004 at 12:32:28:

Well, I don't live in Texas. But I do live in a Tenants by the Entirety state, and I knew it. AND I also live in a non garnishment state. Didn't know that, but my income is not subject to garnishment anyway.
Even if they should change Texas laws, not easy. Did you notice that it is all about communicating with the debtor? Well, I absolutely would not allow such communication. When I was served I was in my attorney's office in a New York second. I had done a pretty good job of protecting everything. My age helped a lot. AND, I did it a couple of years before I was sued.
This is the way I see it. I am an attorney person. So, the attorneys will come up with more ways to make CAs validate, they will be more aggressive in attacking them, and suing them if, for instance, the new bk law goes into effect. The bk attorneys are going to work a little harder for their money, but I have no doubt at all that they will conquer the CAs. If anybody here is old enough to remember when mortgage rates went sky high. What happened, did people pay the interest rates, mostly not, did they stop buying houses, nope. Creative financing was born. As it will be with CA collection if the laws change in Texas or nationwide.


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