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If the creditor gets a judgment against an incorporated business, then yes.
If the business is a sole proprietorship, then it is a bit more complicated. Certain property of an individual debtor cannot be taken by creditors. This includes money earned for personal services within the past 60 days to support the debtor and his or her family. If that is all that is in the account, then it cannot be levied upon.
The reality is that creditors often take first and ask questions later. Most people don't challenge it because they don't believe that they can afford an attorney. The truth is if a creditor is illegally seizing funds that cannot be taken (or funds that don't even belong to the debtor, for example, if they seize funds belonging to a spouse in a joint account), then the law makes the creditor pay the attorney fee. If this happens to you, do not hesitate to contact a lawyer to find out what your rights are.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoDepending on the account they may be able to freeze bank accounts , they are not allowed to take any payments such as child support or disability though.
Wiki User
∙ 13y agoNo.
No creditor has the right to freeze bank accounts in ANY state. Only the court has the right to rule that an account should be frozen.
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What banks in NC have Retirement Savings accounts?
If you are looking for a bigger bank then you can try Bank of America, or Captial Bank which are larger banks. If you are looking for smaller personalized service then you can try Lumbee Guarnity Bank.
What services does the Capital Bank provide in NC?
The Capital Bank in NC provide typical banking services. This includes different types of accounts and loans. They were founded on the belief that they work for you and the entire community. Capital Bank want to provide proactive consultation and expertise to clients.
Safest bank in lumberton ?
Hancock Bank is the Safest bank in Lumberton, NC, USA.
First Community Bank of Virgina took over Waccammaw Bank of NC on what date?
First Community Bank of Bluefield, Virginia took over Waccamaw Bank of Whiteville, NC on June 8, 2012.
Can your bank account be levied in nc?
YES
Where is the Bank of America located in NC?
America
Is there a Chase Bank in Wilmington NC?
unfortunately the only Chase Bank is 2 h away. I moved to Wilmington,NC, and have to switch banks as a result.
Can a collection agency freeze your bank account in NC?
No, it is illegal for a collection agency to garnish or freeze your account for any reason. The only way your account can be garnishes is if you owe taxes or child support. If a collection agency threatens to do this, tell them that you are aware of the Credit Reporting Laws on this matter (there is legal ground for this matter).
What is the swift code for Wachovia Bank in east Franklin street chapel hill nc?
Wachovia Bank is now Wells Fargo Bank. The swift code for Wells Fargo bank on Franklin street in Chapel Hill, NC is PNBPUS33SLC.
What bank in NC has the best CD rates?
Bank of America in NC has the best CD rates. You can read more at deposits.interest.com/content/compare/ and also www.depositaccounts.com/blog
Can a child claim parent bank account after death if not a beneficiary on account in NC?
If you are the legal heir of the people who died, then yes you can claim the proceeds of the bank accounts of your parents. However you need to provide their death certificate and proof that you are the only legal heir to their wealth to gain access to the funds.
Can you go to jail if you owe a bank for a car?
in nc, can you go to jail if you owe a bank for a car?
