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No, they can obtain a court order of garnishment and remove your money at a cost to you.
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∙ 16y ago
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Is money in your reverse mortgage acct safe from creditors?
No.
Are Bank customers are considered creditors?
It depends. Yes - If they have deposited money into their accounts held with the bank, they are called creditors No - If they do not have any money deposited in their account with the bank. Instead if they are loan customers they are called debtors (or people who owe a debt to the bank)
What is the definition of debtors and creditors?
Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and the people taking out the loans are the debtors.
Can creditors take money from your bank account?
Yes, after a judgment has been granted against you
What is meant by the term safe bank?
Safe bank is a term to ensure that money in one bank is safe. The term safe bank can be related to the FDIC. Both of these terms have the same meaning.
where can we transfer our money to keep it safe in a safe savings accoung?
Make sure the bank you have your money in is FDIC insured. If so, your money is safe up to $100,000.00.
Where does a bank keep money?
Banks keep their money in safe vaults. A portion of their money is deposited with the central bank of the nation too.
Where do you put money without putting in the bank?
To keep your money safe without putting it in the bank you could put it in a safe, you'd need a password to get in the safe and access the money so nobody would be able to find it and take it.
How do you keep your money safe without putting it in the bank?
Buy a safe or hire guards.
What is capital adequacy norms?
Matt says that it is the amount of money that a bank keeps in reserve. behind the radiator, to pay creditors.
What is the name of a room in a bank where money and valuables are kept?
Safe
What is the name of the room in a bank where money and valuables are kept?
Safe
