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Garnishee |
Also found in: Dictionary/thesaurus, Financial | 0.03 sec. |
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An individual who holds money or property that belongs to a debtor subject to an attachment proceeding by a creditor. For example, when an individual owes money but has for a source of income only a salary, a creditor might initiate Garnishment proceedings. If the creditor is successful, a certain portion of the debtor's salary will be automatically sent to the creditor from each paycheck. In such case, the debtor's employer is the garnishee. garnishee n. a person or entity, quite often a bank or employer, which receives a court order to not release funds held for or owed to a customer or employee, pending further order of the court. (See: garnish, garnishment) GARNISHEE, practice. A person who has money or property in his possession,
belonging to a defendant, which money or property has been attached in his
hands, and he has had notice of such attachment; he is so called because he
has had warning or notice of the attachment.
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| When the business responds to the notice and garnishees income, the employee is denied any due process as the money is seized - really stolen - without a court order. 1040), declines in phone answering to abysmal 50 percent connect rates, and delays and losses in attempted collection of delinquent receivables - all of which yield negative effects, including taxpayer irritation, garnishees, and foreclosures. If a second creditor files next, the first creditor's garnishees will be limited to 182 days. |
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