It has been a couple of years since we talked but I need your advice again.
Background: My ex was able to win a judgement against me for about $110K having to do with retirement plan split after our divorce
. This was not a Marital Support judgement but a money judgement that court granted her. I have been making very small payments to her at about $100 a month just to keep the courts happy that I am trying to pay her.
Today I received a notice of levy, Under Writ of execution (money judgement) against a retirement account that I have with Flagstar Bank in Michigan. The money they discovered in that account is actually my retirement account and it is an IRA. The Levy was mailed to my old address on the 19th of February and I did not receive it unitl today. It says I have 15 days from the date of the mailing to respond which is ridiculous since it took over 10 days to get to me. I have several questions:
1- How much time do I really have to respond to this Levy? Given it was mailed on 2-19 and I did not get it till today.
2- I was told that my retirement benefits (CCP 704.110 and 704.115) are exempt from such judgements and hence I should be able to respond that that account is exempt from judgement.
3- The account is with a bank called Flagstar Bank which is headquartered in Michigan (the reason I chose them was that they said their investment bank has no offices in California. They only have a Loan office in California and it is not associated with the investment bank but that is the branch that the Sheriff served the Levy with. Can they actually put a Levy on that account given that it is not a california bank or account? Is there anything I can do to block it for that reason?
4- They have included a "financial Statement (wage garnishment
- Enforcement of Judgement)" form with questions about my income, assets, etc. Do I have to respond to that?
Thanks for your help. Please respond as soon as you can in case I have to file this before Friday of this week. Thanks. Ron Firooz