What is a levy on a bank account?

Answer Only you can access your bank account--in most circumstances. A bank account levy allows third parties to whom you owe a debt to receive access to your bank account to withdraw funds in order to sa... Read More »

Top Q&A For: What is a levy on a bank account

Can a collection company levy my bank account?

A collection company can levy your bank account only after obtaining a judgment against you. A court will not authorize a levy unless the collection company has already obtained a judgment. If a co... Read More »

What is a bank levy?

Ignoring a debt can have serious consequences. In addition to wage garnishments and property liens, creditors can also place a levy on consumer bank accounts in order to collect an unpaid debt.Fact... Read More »

What is a bank levy by a creditor?

A bank levy by a creditor is a court-approved post-judgment collection procedure in which the judgment creditor seeks to obtain satisfaction for his judgment for money damages by attaching a debtor... Read More »

If My Bank Account Is Closed by the Bank, Does It Mean I Can't Open Another Account?

Banks close accounts for a variety of reasons, and depending on the reason your bank closed your account, you may find it difficult to open a new account at the same bank or even at another institu... Read More »