I have a friend who woke up this morning and found her checking account had been completely drained. Previously she had a balance of $1,300.00 and today she had a balance of $1.00!!!! The bank told her they recieved a "notice of levy" and had to take her money!!! I didn't get the details yet (she was too upset to talk). Is this normal?? Can this really happen? I just opened a checking account again, and now i'm worried. Antone ever heard of these bank levy's?Reason for Editing (Minimum 15 Characters)
Asked on 5:22 pm Feb 6th 2008
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Can they take from a joint account?Reason for Editing (Minimum 15 Characters)
Answered on 3:08 pm Apr 12th 2010
Anonymous
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If there is anything to do with tax, the state government is very stringent,may it be any state Ohio or Oregon! They would not spare or either mess up with it,but make it sure that they get the money somehow or the other.It can also follow up with garnishment from the savings account of the customer!Reason for Editing (Minimum 15 Characters)
Answered on 12:52 pm Apr 28th 2010
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I was told that in California that if you have someone on your bank account who is not a spouse that they cannot levy the account. Does anyone know if this is true?Reason for Editing (Minimum 15 Characters)
Answered on 3:16 pm Apr 30th 2010
Anonymous
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I just had my bank accounts levied.They had $400 OUT OF $7000 OWE. I am expecting my direct deposit from my work. How many times can they levy in a week?Reason for Editing (Minimum 15 Characters)
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The creditor or colelction agency will have to first win a lawsuit against you to levy your bank account for unpaid debt. Your bank account can be levied by the creditor or collection agnecy till the debt gets paid off. However, I am not sure as to how many times in a week they can levy your bank account.Reason for Editing (Minimum 15 Characters)
Answered on 3:11 am Jun 29th 2010
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i believe it depends on the state that you live in. each state is different and some states do allow and others dont allow for joint bank accounts to be levied. we are in tx and we own a small company. we are actually going after a customer right now and we are in the works to levy their bank accounts. as a business owner i can see the good in this, but as a person i see the bad. its bad to take someones entire bank balance, but then again, why buy something, or get work done that you DONT plan on paying back. i know people go through hard times. but when you make excuse after excuse after excuse, there is only so long you can do that until someone pursues it. and then people act shocked when they ARE MADE TO PAY. why? did you really think nothing was going to happen. did you really think that you could do this to someone or a company and not have to pay and that you would get something for free. some things, as in gas, that is over priced. for those of you who just added someone or had nothing to do with it, i feel bad for you. for those of you who tried to gip others, well, good luck.Reason for Editing (Minimum 15 Characters)
Answered on 11:31 pm Aug 14th 2010
Anonymous
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I was sued back in March of this year by Bank of America for an unpaid credit card debt. Unfortunately I was not aware of this since I moved out of state and the court papers went to my old address in NJ. Last week I went to use my debit card and it was declined, so I called BOA and they stated that there was a levy on the account (which had about $4000 in checking and $1500 in savings.) So I contacted my attorney who instructed me to open a new account in NY (at a bank that does not have branches in NJ) and that he would contact the "other side" to attempt to get a $1000 exemption (return of funds) and set up a payment plan since I didnt know anything about this. In the meantime I have a business to run and bills to pay.....now here's my question...
The morning of the levy I deposited multiple checks into my BOA checking account (about $1400 worth) which would not be credited to the account until midnight that day. Once I found out about the levy that afternoon I looked at my account online and the only funds that were placed on hold for the levy were the ones that were actually in the account. The next morning the funds from the checks that I deposited were available (less a few checks that had cleared overnight). I was actually able to withdraw the remainder of the funds from the account (that were credited after the levy) and also deposit small amounts to cover scheduled automatic bill payments.
Now the amount that I owe for this judgement they have against me is MORE than what they received when they put the levy into play...and from what I read all over the internet (and according to the attorney) any money that I put in there should be frozen as well....but it's not - at the moment at least. So I am wondering whats going on....is it that they have to go back and re-serve BOA each time they want to get more money? Or has the bank messed up?
I would like to be able to deposit some big checks into the account since check cashing stores are not going to work for me and it's a hassle to open another account when I have bills that need to be paid right away seeing as the first of the month is in a day. Even if I have to withdraw the funds at the ATM the minute they clear...
Anyone have any insight?Reason for Editing (Minimum 15 Characters)
Answered on 6:35 pm Oct 30th 2010
Anonymous
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This just happened to me over the weekend with student loan debt. The worst part of all of it is I have had 3 substantial student loans in my life and 2 of them are completely paid off!!! This last loan company levied my accounts, but would not work with me in the slightest. One man I spoke to about getting monthly payments told me "we don't really do that." He demanded all of the money in one payment. Another time I spoke to a woman that told me that she would cut me a deal and drop a percentage of what I owe them. They told me they would drop my $15,000 loan down to $9,000. If I could pay it off by Friday... it was Wednesday. I told them it wouldn't be possible and they told me that the one time deal was off the table and they would continue with legal action. Once again giving me no option to set up monthly payments.
On top of all of that, I moved in the middle of this and after telling them my new address countless times they never forwarded my mail. I no longer even live in the same state and I received no bills, notices, or court orders. It came out of nowhere. Plus my rent is due in four days and I have no money to pay it. Now I'm stuck with no bank account because 3 weeks after my 18th birthday I signed my future, soul and first born child over to a system that couldn't care less about me. In hopes of getting a college degree.
Today I spent all day (while at work) trying to get a hold of the officer in charge of my situation, I left him four messages and he never responded. I'm beginning to feel like there's no point in trying because it's almost as if they're going out of their way to screw me over.
Don't believe a word they say. Trying to work with them doesn't help, they don't care.
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Answered on 2:30 pm Jun 27th 2011
Anonymous
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don't sign a Stipulation of Judgment at all. That gives the creditor the reason to seize the account with a bank levy. Before a Stipulation of Judgement takes place, there is a trial.
The Stipulation of Judgment basically is written, by the collectors, as to "that you admit that you owe the debt" When they get the Stipulation approved by the court, then comes the garnishment or bank levy. But there has to be a trial or pretrial "let's work something out" in court.
I have gone to two pretrials. The judge ordered us (the collector and myself) to go outside the courtroom to try and work something out. We couldn't because well...you can't get blood from a turnip so to speak. And that is my predictament. No money to pay anything just about, but surviving expenses. The last I had a pretrial was July 28, 2011. The collector asked for a court date in 90 days. So I have to go back to court for the trial. The collector said to the judge that they will file a Stipulation of Judgment. Well, I am not going to sign it. I have done enough research that says "don't sign these things". But anyway, it still have to go through the court to get the okay to bank levy.
if you don't/didn't answer the summons, subpoena, or blew off your court dates, it's trouble. That's how these levies "come out of nowhere". You didn't do something you were supposed to do, like answer the summons in court. or missed your court dates.
now, this is for credit card debt. as far as taxes unpaid, the IRS can do bank levies and garnishments without any. In a blink of an eye, the IRS has seized.
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Answered on 10:09 am Aug 5th 2011
Anonymous
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I just found out this morning had money removed. Lost my job, on unemployment, bankruptcy, and a car that was to be picked to be returned. I contacted the car company once a month and they said they would contact someone to pick it up, and it took them one year to get their car. Since the car was to be theirs I didn't pay the registration. I contacted DMV to let them know and sent them all the necessary documents. The car company sent a guy out to pick the car up and I received notice that it was going to auction back in the beginning in March; far as I know the car was sold. I hadn't heard from the DMV until they removed the amount of the registration and the legal processing fee out of my account after they deposited my unemployment. That is our government for you!
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Answered on 9:39 am May 6th 2012
Anonymous
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