Repossession
Debt Collection
Banking
Commercial Bank and Checking Accounts

Can a bank freeze all your bank accounts after a repossession?

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Wiki User
2015-07-14 16:03:03
2015-07-14 16:03:03

A bank can take the money you have held in its accounts if you owe it money. Even in a bankruptcy, you need to pull any money out of the banks you owe money to.

NO, unless you give them permission to in the contract. I don't rem the term for it,its not vey common. That's why you have to actually READ the fine print in the contract you sign.

Unless it is in the contract they can not do it..If they had a judgment that would be a different story. Then what they would have to do is, get a order of execution against the account then they would be able to take they money..actually the court officer would go and take its fee, and then take all the money from your account and freeze the account for 30 days....Bank levy....

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