Bank goes after credit union to collect judgment proceeds

By Kelly Holleran | Feb 18, 2010

Wells Fargo Bank says it deserves property from a local credit union after a man has allegedly failed to satisfy a judgment in the bank's favor.

Wells Fargo filed an application for writ of garnishment Feb. 11 in Jefferson County District Court against DuPont Goodrich Federal Credit Union.

Wells Fargo claims on Jan. 31, 2006, Jefferson County District Court entered a judgment in favor of the bank and against Michael Vega for actual damages of $31,460.82, pre-judgment interest at $13.36 per day, post-judgment interest at 10 percent annum, $1,000 in attorney's fees and costs of the court.

However, Vega has failed to pay the money to Wells Fargo, according to the complaint.

Because Vega does not have property in Texas that would sufficiently cover the costs of the suit, Wells Fargo has decided to go after DuPont Goodrich FCU. The credit union may be indebted to Vega because it holds a bank account, the suit states.

"Garnishor is not seeking to injure or harass the Garnishee or the Judgment Debtor by sending out a Writ of Garnishment," the complaint says. "Rather, Garnishor is attempting to collect on a Judgment. Garnishor requests that if Garnishee, DuPont Goodrich Federal Credit Union is indebted to Michael Vega by any account or otherwise, that Garnishee hold and allow Garnishor to garnish said belongings."

In addition to the property it seeks to satisfy the judgment, Wells Fargo seeks costs and other relief the court deems just.

Mark Rechner, Scott A. Sharp and K. Mark Vincent of Vincent, Lopez, Serafino and Jenevein in Dallas will be representing it.
The case has been assigned to Judge Donald Floyd, 172nd District Court.
Jefferson County District Court case number: E185-921.

More News

The Record Network