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What happens if a bank account is levied but there are no funds in the account?
Wiki User
∙ 12y ago
if there are no funds in the account they cant take anything. i know because i had the same problem. you actually have some rights when it comes to levies on your account. if you receive any form of government assistance or disability they cant touch it. you also have a 10 day grace period from the time money is deposited to the time it can be levied.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoThe court can grant a levy withdrawal if there is no money in the account. They will take whatever money is in the account when it is put in.
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Can your school financial aid get garnished?
Yes, once the funds are deposited as cash to a bank account, the account can then be levied to satisfy a judgement.
Can a bank account held soley by the non debtor spouse be levied for the debtor spouses debts if the couple reside in a non community property state?
If it can be proven that the debtor has funds going into the non debtors account then the amounts that are going into the non-debtors account that originally were funds belonging to the debtor can be levied.
Can your bank account be levied in nc?
YES
Can a bank account in Delaware be levied for a court judgment?
Yes, a bank account in Delaware can be levied for a court judgment. If a creditor obtains a judgment against a debtor, they can potentially freeze or garnish funds in the debtor's Delaware bank account to satisfy the debt. It is important for debtors to be aware of their rights and seek legal counsel to understand the implications of a court judgment on their assets.
Can a joint bank account be levied in Pennsylvania?
Yes, in Pennsylvania, a joint back account can be levied. This is usually called a levying of bank accounts or garnishing wages.
Can a bank account be levied in new york?
Yes.
Can only the government place a levy on a bank account?
No, but a bank account can only be levied by a court order.
What happens if your bank honours a cheque for which you don't have sufficient funds in your checking account to cover?
Your bank will likely charge you a fee.
How do you know if your bank account is levied?
Do you have any money left?
What happens to the money if you close an account and forgot there was money in there?
Actually such a scenario wouldn't occur. When a bank account is closed, the bank would release all the funds held in that account to the account holder on the same day the account is closed. Even if they can't do it immediately, they would have sent a check to the customer by post/mail. Banks cannot hold on to the funds of a bank account that was closed. It is mandatory for them to return the funds to the customer once his account is closed.
Can a joint bank account in Florida be levied by New Jersey law if only one person is levied upon?
Not if it is a marital account held as Tenancy By The Entirety.
What does restrained bank account mean?
When a bank account is RESTRAINED it means that the bank has put a "freeze" on the account and no funds may be withdrawn by anyone. Usually this is the result of some party with a judgment against the account holder who --by virtue of their judgment obtained in court-- has the right to go after any assets of the account holder. While RESTRAINED, all funds remain at the bank (minus any bank fees the bank may charge for having to process the Restraining Order). Ultimately the funds will meet one of the following fates: After a year, the Restraining Notice will expire (but a new can be issued quickly); or the account holder will sign over all or part of the funds in the account to whomever holds the judgment against them, and the account will be "normal" again after that; or if the account holder refuses to release any funds the judgment holder can send the local Sheriff or Marshall in to seize the funds, after which the account again returns to "normal" status but at that point the account is no longer considered RESTRAINED it is said to have been levied.
