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I don' t know about an IRA account, but a creditor cannot freeze or "attach" an individuals' social security or pension account in many States. If you can show that the bank "attachment" was either a SS monthly payment or receivables from a pension fund payout, the courts will declare the action invalid.
Don in Cherry Hill, New Jersey
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∙ 15y ago
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Can anyone freeze a joint banking account?
No. A creditor that wants to freeze the assets in a bank account must seek and be granted a court order. The order must then be served on the bank.
Can a creditor get a judgment and freeze your bank account in South Carolina?
A creditor can get a judgment and freeze your bank account in South Carolina, but typically creditors only do this if you owe them a very large amount of money. The cost to do this usually means it's not worthwhile for creditors to pursue this type of action.
Can IRA be seized by a creditor?
No, the are protected by the courts.
Can a creditor freeze your corporation account for a personal bill?
For starters, a creditor or collection can not just freeze accounts, unless this creditor is your bank and they have some more powers over your accounts. However, if you had an unpaid personal bill, generally it would not be attachable to your business, and vice verse, unless there was a guarantee involved.
Can a creditor freeze va disability account?
No. Disability benefits are exempt from judgment creditor action. However, if the benefits are commingled with monies that are not exempted an bank account can be frozen by court order until it is determined the amount of funds that are exempted from seizure.
How does a creditor know where and what bank account to freeze?
The banks send your information to the major credit reporting agencies. In order to freeze your bank account the creditor must obtain a court order to collect on a debt from you. With that court order they can get your account information from the bank to process the freeze/collection.
Can anyone freeze a joint banking account?
No. A creditor that wants to freeze the assets in a bank account must seek and be granted a court order. The order must then be served on the bank.
Can a credit card company freeze a checking account of a diabled person?
No creditor can freeze anyone's assets without court authorization--disability or not.
Can a creditor get a judgment and freeze your bank account in South Carolina?
A creditor can get a judgment and freeze your bank account in South Carolina, but typically creditors only do this if you owe them a very large amount of money. The cost to do this usually means it's not worthwhile for creditors to pursue this type of action.
If a creditor gives account to attorney for a judgment-can the creditor freeze the debtors business bank account-or just his personal accountCreditor account in my name only co-signed business acc't?
They can legally freeze anything with your name on it. Also know if they can prove your spouse has a checking account with the same bank you do they can take it too. They don't actually freeze it. They take out the balance and refund whatever is left after all their costs. ONLY IF IT IS A JUDGMENT!!!!!
Can IRA be seized by a creditor?
No, the are protected by the courts.
Can a creditor freeze your corporation account for a personal bill?
For starters, a creditor or collection can not just freeze accounts, unless this creditor is your bank and they have some more powers over your accounts. However, if you had an unpaid personal bill, generally it would not be attachable to your business, and vice verse, unless there was a guarantee involved.
Can a creditor freeze va disability account?
No. Disability benefits are exempt from judgment creditor action. However, if the benefits are commingled with monies that are not exempted an bank account can be frozen by court order until it is determined the amount of funds that are exempted from seizure.
Can a creditor garnishee wages if you are on public assistance?
No.All SS benefits and public assistance benefits are exempt from creditor action. If the benefits are commingled in a bank account with non exempt funds, it is possible for a judgment creditor to request the court freeze the account until the amount of exempt funds is proved.
What is a Restraining Notice with Information Subpoena on a bank account?
It is used by a judgment creditor to freeze the assets of the debtor and to find out what assets the debtor has.
Can a creditor freeze bank accounts and how long does it take?
A creditor can freeze bank accounts in some instances. Generally, an outside creditor that is not the government can not freeze your personal bank accounts unless they have some court order allowing this. However, if the creditor is also your bank they may have "right of offset" written into their account agreements. This gives them the right to freeze funds or use the funds to offset a delinquent loan or to force the monthly payment. THIS IS NOT THE CASE FOR REAL ESTATE LOANS IN "ONE ACTION" STATES SUCH AS CALIFORNIA. In these circumstances a lender is only allowed to do one thing against you to get repayment. If they touch your bank account they loose to option of foreclosure. The IRS may levy your account for taxes owed. The amount of time these things take depends on the situation.
If you are delinquent in repaying your credit card debt can your bank account be 'frozen' if the account is with a different bank than the one in which you hold an account?
Even though I do believe your privacy policy has been invaded, I do believe the bank can freeze your account. Answer Yes, if the creditor obtains a judgment by means of a civil suit against the debtor the judgment can be executed as a bank account levy, this means the judgment creditor can remove all non exempt funds from the account until the judgment is paid. Where the account is joint and only one of the account holders is being sued and/or the creditor plaintiff believes the defendant debtor may try to withdraw all the funds the plaintiff can request the court to 'freeze' the account until the suit is settled.
