Associates Financial Services, Inc. v. McClendon

LEMMON, Judge.

This is a contest between two conflicting creditors of Edwin McClendon, whose wages have been garnisheed by one of the creditors.

On April 27, 1977 McClendon had executed a “Pledge and Assignment of Proceeds Services”, whereby in order to secure a $38,344.42 loan McClendon did “pledge and/or assign, transfer, set over and deliver” to the First Metropolitan Bank “any and all sums now due and owing to the said McClendon or that may hereafter become due and owing to McClendon under and by virtue (of) services performed” by McClen-don for his employer. The contract was immediately…