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First of all...I'm not sure why you would think they couldn't? You apparently understand there is a process called Levy that can be done against your account. Whom do you think that process is expected to be used by...and to do what? Maybe collect a debt? And they are an agency doing what...collecting debts.
Now, they certainly would rather have you pay, without having to go through the time, expense and trouble to levy an account.
To levy your account there may be certain process they would have to do first, and be able to prove your debt, etc. But, the Law, the courts, their kids, their school, their grandparents and their doctor, even their Church, etc., etc., everyone they need or want to pay really wants them to be able to collect what they are owed.
But, first off: Did you bother reading whatever agreement they are collecting on that you didn't bother following? (Understand, paying is following...not paying isn't following. Your the one that did wrong). if a right is needed, see if you gave them the right to do so in that agreement....what do you think....the guys writing the contract blank smart enough to put it in, even if it isn't always needed...along with some general language to make sure they can collect?
If you have the money to pay on the debt in the account...why don't you do so?
Wiki User
∙ 16y ago
Wiki User
∙ 15y agoAny creditor can levy your bank account if you default on the credit agreement and they go through the right legal motions. Student loans do not have any special privileges in this area, unlike with wages and tax refunds.
Wiki User
∙ 16y agoIf you owe the money, and the lender goes thru all the channels to collect,
then yes a bank account can be levied.
Wiki User
∙ 9y agoA bank account can be levied as often as necessary. This will make sure that debts are paid off by the debtor.
Wiki User
∙ 15y agoAn attorney can get a court order to levy your bank account or your wages.
Wiki User
∙ 13y agoYou should receive notice in the mail.
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In Pennsylvania can a creditor garnish your wages or levy your bank account?
They can levy bank accounts in most cases, they cannot garnish wages.
If a creditor placed a levy on a bank account can other accounts current and future be suject to the levy?
current accounts not future unless they refile again
Can bank accounts be seized if a judgment is owed?
They can levy them once they have a judgement.
What is Wisconsin's bank levy process?
The day the bank receives the levy the funds should be taken from the account or accounts and make a cashier's check payable to Wisconsin Department of Revenue. The funds can be held in the this for up to 21 days. If the bank doesn't get a release of the levy, the bank needs to send the funds to the Wisconsin Department of Revenue. If the bank receive a release of the levy, the bank can deposit the funds back into the account or accounts that the funds where taken from
What does the levy means?
The IRS can put a levy on your bank accounts if you owe them money and have not paid them. It means they can take your money, whether you want them to or not.
Can bank levy accounts when money is owed to same bank?
Yes, look over your paperwork for the section on "Right to Setoff"
What is a levy?
A levy in financial terms, is one way in which a writ of judgment can be enforced to collect a debt. Sometimes wage garnishment is referred to as a "levy against earnings". More often a levy is placed against bank accounts.
What is it called when creditor can take your money out of your bank?
Generally:Attachment for bank accounts and intangible assets.Seize property and tangible assets.Garnishment applies to wages. Judgment levy of a bank account.
Can the IRS levy bank accounts in Delaware?
Of course. Why would you possibly even question that the Federal government couldn't do something anywhere in the country? Especially something anyone can do? The IRS can levy a bank account anywhere within the US.
Can your bank account be garnished by a creditor in Pennsylvania?
Yes. The state allows the levy of bank accounts even those held jointly by judgment creditor(s).
Can a levy be placed on someone's bank account for Child Support in NJ?
There are many administrative processes that can be done for arrears of back child support. In NJ as well as the rest of the United States, a levy can be placed on bank accounts and assets of the person who is in arrears.
Bank levy on a joint account?
A judgment creditor might be able to levy against a joint account where only one account holder is the debtor. It really depends how the bank account is held and the state laws pertaining to such. One example, joint marital bank accounts held in community property states are subject to levy even if only one spouse is the named debtor.
