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If creditors believe the person is trying to remove funds from accounts to keep them from bankruptcy proceedings; creditors can petition the court to freeze all accounts/assets. A bank cannot arbitraily seize account funds unless the depositer has a loan with the bank which includes a set off provision. Even then the bankruptcy trustee can request the funds be returned and included as assets in the bankruptcy.

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โˆ™ 2005-04-12 14:42:54
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Q: Can the bank seize assets in the bank during a bankruptcy?
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Related questions

What does it mean when SBA or the bank wins judgment against your assets?

The plaintiff may now demand that a bank or broker freeze your accounts, and that a sheriff of marshal seize accounts or other property. The plaintiff may also file a lien against any recorded property, such as real estate. If the assets are hard to find, the plaintiff may require a deposition called a debtor's examination to require you to disclose your assets. Certain assets may be protected from seizure by federal or state bankruptcy laws.

How does a bankruptcy trustee investigate a debtor?

It is rare that a bankruptcy trustee really investigates a debtor. There have to be a large amount of questionable assets or, like in a Chapter 11, types of assets that would send a trustee to your house. When they do, they look into bank accounts and physical assets such as furniture, houses, cars and even clothes.

During a foreclosure can the mortgage company go into your bank account or asssets?

AnswerChange banks if the lending institution and bank are the same place. By federal law, banks can seize assets from accounts held at their own institution to pay a debt owed to them without notice.

Can a creditor garnish wages and seize money from a bank account in Michigan?

A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.

What do you keep in a bankruptcy?

It is a myth that you will lose everything if you file for bankruptcy. While the bank is allowed-under Chapter 7-to liquidate assets, there are number of exemptions including tools of the trad exemptions, primary vehicle, and others.

What are the primary assets and liabilities of a commercial bank?

Loan assets and investment assets are the primary assets of a commercial bank. Deposits and borrowing are liabilities also known as claims to a commercial bank.

What are rate sensitive assets?

Bank assets are called rate sensitive assets. These bank assets are always subject to changes because of the interest rates.

What assets did Bank of America have in 2002?

Bank of America had total assets of $619.9 trillion in 2002

How long until a bank seizes your house after you file for bankruptcy?

Most banks won't seize your home after bankruptcy. One of the key purposes of bankruptcy is to preserve the living assets and provide the individual with another chance (albeit with a lot less credit flexibility). Note: I am NOT a certified financial planner (CFP) and am NOT licensed to provide financial advice. [opinion] If you are in a situation where foreclosure is on the horizon and you have tried to negotiate with creditors to no avail, you will want to consider bankruptcy in order to hold onto your home. While the debt associated with your mortgage may not be forgiven as a result of the bankruptcy, you WILL force a renegotiation and you WILL keep your home.

How much in assets does the Banterra Bank currently have?

The Banterra Bank currently has a large number of different varieties of assets. In total, the Banterra Bank has the large amount of 1,164,535 dollars in assets.

Will a bank hire you if you have a bankruptcy on your record?

no they will not Yes. Each bank has its own rules but most will, unless of course they were listed on the bankruptcy

Why would a bank file a motion for relief of stay for post-bankruptcy payments when the entire amount owed is in the bankruptcy?

You need to contact the attorney who handled your bankruptcy and let them act on your behalf. The only thing I can think of, is the bank might feel a fradulent transfer of assets has occurred. Or they believe they are able to use an offset action. Something strange here, get legal counsel asap.

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