Please help!!!!! Urgent question about bank levy and lawsuits
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#1
03-21-2009, 09:59 AM
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Please help!!!!! Urgent question about bank levy and lawsuit
Got home from work and noticed that there was from what I've been reading a bank levy on my account, no warning no nothing, the money was just gone, according to the bank the levy was for $1140.10, and they got $159.84, this information along with the lawyers name and tn# is all we have, nothing else, now we did move back in oct of 2008 to another city, but I thought that, if someone sue me they would have to put a legal notice in the newspaper of the last known address? by the way I live in alabama, We could really use any and all help
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#3
03-25-2009, 08:22 AM
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A bank levy is when your bank account is frozen and all or part of the monies in your bank account are seized. Bank levy's can happen for many reasons, however the two most common are due to unpaid taxes and unpaid debt.
A bank levy just doesn't happen immediately; usually it is the result of a creditor trying to force a debtor to repay a debt. Obviously in the case of taxes, if the IRS has sent you a letter stating that you owe taxes and you either refuse to pay the debt or don't respond to their requests by either making a repayment plan or trying to work with them towards repayment, a tool they will use is a bank levy. They will freeze your accounts and seize any money in your account up to the amount that you owe. The bank account can be almost any type of account (e.g. savings, checking, etc) and while most levy's occur in the US, the IRS or other creditors can sometimes go after off shore accounts. Once a bank levy is made on your account, any money that is in the account will be seized. If there is not enough money in the account, all money will be removed and your account will usually remain frozen until the debt is paid off. It should be noted that while the IRS are usually the ones that use this method the most, other creditors have used this method to receive repayment for their debts. For instance, if you have a judgment against you for a credit card debt, the creditor can file for a bank levy to be placed on your account. While state laws differ, in most cases certain monies in your account are exempt including welfare payments, social security payments, VA benefits, child support, etc. If a bank levy has been placed on your account by a creditor, you usually have 30 days to contest the levy (in the case that monies that were seized are exempt). If a bank levy occurs, you should contact the court to find out how to file for an exemption immediately.
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#4
03-25-2009, 01:07 PM
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it is my understanding that people are not notified of bank levies (someone correct me if i am wrong).
we process those in work and everyone who calls usually first finds out when their bank accounts are cleared. though i am sure they get heavy collection activity before hand. __________________
I'm not as fed up anymore.. making extra money http://www.needbetterdays.blogspot.com
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#5
03-25-2009, 05:02 PM
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IMO, a collector could inform you of the possibilities your accounts can be levied. But they do not have to tell you when :? It usually is a surprise when it happens.
__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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#6
03-26-2009, 07:01 AM
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i agree with anyaroberts, it seems thats how it happens. they threaten it, usually a long time before and than kind of pop up with it one and your bank is cleared out.
 it's really pretty scary actually.
__________________
I'm not as fed up anymore.. making extra money http://www.needbetterdays.blogspot.com
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#8
05-13-2009, 07:08 AM
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If you have more than one account at the same bank a levy can be placed on all accounts
__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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#10
06-23-2009, 07:20 PM
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I always thought a creditor had to be awarded a judgement, and then have a court order before a bank account can be levied. Although, I believe the IRS does not have to have a court order. If its not the IRS that levied your bank account, then I would check into the situation. Did the creditor that levied your account have a judgement against you? Did they try to garnish your wages first?
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