Yes they can.
To access to bank account as such, no. But if the debtor agrees to have ACH for payments, then the creditor or collection agencies can withdraw funds, or depending on the state laws a Judge can authorize to garnish wages from the bank. Find laws that apply to the debt in the resources box
Yes, if a collection agency files a lawsuit and is awarded a judgment against the debtor. In the majority of U.S. states a judgment can be executed against bank accounts even those held jointly. The exception would be a marital account held in Tenancy By The Entirety (TBE) when only one spouse is the judgment debtor.
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.
yes bank account is personal account
Collection agencies can not freeze anything. Only courts can freeze bank accounts.
No bank account is a Personal account in Accounting
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.
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.
They can't freeze the account initially. First, they must try to collect the debt from you. Then, they can sue you if you do not pay. If they win a judgment against you, they can freeze the bank account. Sometimes collection agencies sue people for debt that is not their or that is past the statute of limitations. Learn your rights by reading up on the FDCPA.
you have to have money then you must put it into a bank then you have a bank account.
It is Personal Account and Cash A/c is actually real account.