How many times can the same creditor levy my bank account?

Answer 1

Your bank account can be levied as often as the creditor would like, so long as the sum of all the levies is equal to or less than the judgment. Please keep in mind they can use the levying officer, which charges a lower fee, or a process server. Each time they levy the account, the processing fees are deducted first, then the interest, and then the rest goes to the principal. They can levy whenever they want. If they know when you get paid, they will most likely have the account levied on those days and you will not be able to access the funds unless you can prove it's some form of disability payment, retirement account, or a few other exempt forms of pay. My recommendation is to live off of cash and money orders until you've settled the debt. This will show up on your credit report and you will be considered a major risk until this debt is settled. After they levy your bank accounts, they might have your wages garnished. If they garnish your wages, they can levy your bank account in addition to the garnishment. It's your responsibility to pay the creditor. You may not have all the money at the moment, but you can work out a payment plan through the court. You should get in contact with the creditor and work something out. I am not a lawyer and only know about this because I'm in the process of collecting a debt from somebody. I am using both methods because the person refuses to pay and this is the only way I will be able to get the money from the person. Your judgment is valid in all 50 states. If the creditor is levying your accounts, it is most likely they will follow you wherever you go. Whatever costs are incurred by tracking you, these will be added to the judgment. So just pay your debt and you won't have to worry about it. Your bank account can be levied as often as the creditor would like, so long as the sum of all the levies is equal to or less than the judgment. Please keep in mind they can use the levying officer, which charges a lower fee, or a process server. Each time they levy the account, the processing fees are deducted first, then the interest, and then the rest goes to the principal. They can levy whenever they want. If they know when you get paid, they will most likely have the account levied on those days and you will not be able to access the funds unless you can prove it's some form of disability payment, retirement account, or a few other exempt forms of pay. My recommendation is to live off of cash and money orders until you've settled the debt. This will show up on your credit report and you will be considered a major risk until this debt is settled. After they levy your bank accounts, they might have your wages garnished. If they garnish your wages, they can levy your bank account in addition to the garnishment. It's your responsibility to pay the creditor. You may not have all the money at the moment, but you can work out a payment plan through the court. You should get in contact with the creditor and work something out. I am not a lawyer and only know about this because I'm in the process of collecting a debt from somebody. I am using both methods because the person refuses to pay and this is the only way I will be able to get the money from the person. Your judgment is valid in all 50 states. If the creditor is levying your accounts, it is most likely they will follow you wherever you go. Whatever costs are incurred by tracking you, these will be added to the judgment. So just pay your debt and you won't have to worry about it.