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Yes, if they obtain a judgment on the past due claim and then file a Motion for Garnishment or Levy on your bank account. They however can not just take this action without the courts, and if they are claiming that they "will" attach your back account then they could be in violation of collections laws that aim to prevent making misleading or fraudulent claims to debtors.
If you suspect they are trying to mislead you into thinking if you do not pay them that they will take the balance from your bank account, or that they have the ability to do such actions without explaining the legal process, I would direct you to contact an FDCPA attorney as you may be entitled to damages for their violation of State and Federal collections laws.
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If the bank charged off the account and send a 1098 form to the IRS can the bank later sell the account to the collection company?
Banks can sell debts to collection agencies at any time. The write off was likely done after the sale anyhow, and the 1098 was for the amount of money the bank lost overall.
Can a collection agency freeze a bank account in Pennsylvania?
Collection agencies do not and cannot freeze accounts in any state. Only the courts can do this. However, if a lender has a valid judgment against you for a bad debt, any collection agency they hire to recover it can serve your bank with an order of garnishee and attach the assets in the accounts you have there.
A debit or credit memo describing entries in the company's bank account may be enclosed with the bank statement An example of a credit memo is?
a promissory note left for collection
Can the collection agency freeze your bank acct in Fla?
No. A collection agency can not freeze your bank account. Only a judge could do that.
What is the cash account in a company's ledger?
The cash account in the company's ledger is Bank.
Can a collection agency levy your bank account if your name is on the account only for convenience?
Yes. That is one of the risks associated with having a joint account. Your creditor can attach the funds pursuant to a court judgment.
Can collection judgment freeze your bank account?
Yes, a collection judgment can freeze a bank account. A court order is required. If a bank account is frozen, it cannot be used until the debt is paid.
If the bank charged off the account and send a 1098 form to the IRS can the bank later sell the account to the collection company?
Banks can sell debts to collection agencies at any time. The write off was likely done after the sale anyhow, and the 1098 was for the amount of money the bank lost overall.
Can a collection agency freeze a bank account in Pennsylvania?
Collection agencies do not and cannot freeze accounts in any state. Only the courts can do this. However, if a lender has a valid judgment against you for a bad debt, any collection agency they hire to recover it can serve your bank with an order of garnishee and attach the assets in the accounts you have there.
If your bank charged off your bank account and was bought out by another company do you still have to pay?
yes the debt does not go away, the bank simply sold the debt to an outside collection agency.
A debit or credit memo describing entries in the company's bank account may be enclosed with the bank statement An example of a credit memo is?
a promissory note left for collection
Can the collection agency freeze your bank acct in Fla?
No. A collection agency can not freeze your bank account. Only a judge could do that.
Can a creditor get a judgment and attach your debit card?
They wouldn't attach a debit card, they would attach the bank account. If there is a debit card the account is connected to, I suppose you could say they've attached it.
Can collection agency put a lien on your bank account in sc?
It is possible for the collection agency to put a lien on your bank account. Before they can do this, they must go through the proper procedures first.
What is the cash account in a company's ledger?
The cash account in the company's ledger is Bank.
What is the usual action of credit card company's toward nonpaying creditors?
Well after 6 years of not paying a dime to household bank the account has been charged off and the collection company is sueing me.
Bank account debt collection?
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
