Levy? Has anyone ever had a levy put on their account? Result?

As far as I know, a creditor can never garnish your bank account unless they sue you to the court and bring judgment against you to do so. If they have garnished your bank account, it means that there has been a default judgment against you. If there is a default judgment, you can find it listed in your credit report.
The creditors can find out your bank account details through your social security number.

thank you for replying,I thought a garnishment was different from a levy.I called my bank yesterday and they told me that they don't need your bank account numbers they just need your name and your bank.A garnishment was,I thought,when your creditor goes throught your employer to get to your paye check.I was also told by a settlement co.,don't know if they are lying,that creditors can put a levy on your account without notifying you.The settlement company told me they have their customers move their bank accounts to another bank as a decoy.Your telling me that they can find out my bank account info from my social security number..then what is the point of changing banks if they can find that out? now I'm a little more confused of what I should do?I was also told by that settlement company that only a creditor can put a levy on your bank account not a collection agency.Does anyone know anything further?I am trying to settle my own debt without using a settlement company and don't know if anyone has run into this before.

You are correct. Garnishment effects your paycheck. A levy can be placed on your bank account and they can basically take everything to satisfy a judgement. The only levy I have ever dealt with was a tax levy by the IRS. Fortunately I only had a minimal amount of money in the bank at the time. BofA charged me $100 because of it as well.

ok thanks for clarifying that. Have you read here anywhere where someone has had a levy put on their bank account when dealing with creditors. Don't know if it is worth changing banks since they can find that info also.

Only if a judgement has been awarded and your state allows for it. What state are you in?

omg nascar devil how do you know so much? I'm grateful you are here.I live in massachusetts. What do you mean if a judgement has been awarded and my state allows it?

Each state has different exemptions to judgements and garnishments. No state allows your SSI, SSDI, workmans comp, etc to be garnished for consumer debt (IRS and student loans are an exception to that rule) and you generally get exemptions for various things. I'll see if I can get you a link to MA's exemptions and post it

Here is a link for Wage Garnihsment exemptions by state:

http://www.fair-debt-collection.com/state-wage-garnishments.html#39

MA Post Judgement Asset exemptions:

http://business.uschamber.com/P98/P98_12_assettables_MA.asp

thank you so much I will look into that.I need to ask another question. Someone said that one of the creditors took his route number off his check and that is how they got into his bank account..or maybe he was just guessing that's how they did it. Do you think it is worth to switch banks or get a new bank account number?or get another account with another bank and keep a bulk of my money there...as a decoy?

I've heard of that happeneing. Once they have the bank info, they send the Writ of Garnishment in and freeze your account. You can change banks and if you have a spouse, put the account in their name only

oh this our debt combined. but you keep saying garnishment I'm more concerned about getting a levy right now.We have 12 cc to settle on and decided to try to settle ourselves without using a settlement company.Have learned alot from everybody and especially you.Do you know if it is true that a creditor can put a levy on your account but not a collection agency?

A creditor can put a levy also but they still need to sue you first and get a judgment.

oooookkkkk now I feel a little better they need to sue you first. I was told that they don't even need to notify you about the levy and they can just go to court and put it on and then tell you. You're saying they need to sue you first? Just want to make sure I'm understanding this correctly because I am being told different things.Hey guest how do you know this? Did this happen to you? Hey Nascar Devil what do you think?

You have to be served and given an opportunity to defend yourself first. If a judgement is entered against you, then, they can levy.

One exception and a very important one I forgot to mention. If you hold a delinquent CC with, for example Bank of America, and you also have a bank account at BofA, they have the "Right to Offset" which means the can use the funds in your bank account to offset the past due CC balance. I'm sorr I forgot to mention that one. I'm more familiar with dealing with CA's more than OC's.

that's ok nascar thank you...but no none of our cc are with my bank.thank you I feel a little more confident that at least I will be notified first that this may happen and they cannot be sneaky about it and do it without notifying you

I'd keep an eye on your county courts web site. That way you can see if anyone has filed and you can get a jumpstart.

I wanted to share with everyone the information that I had found out.I spoke with my lawyer today and asked him about a bank levy and garnishments. Told me that for a creditor to put a levy on your bank account,it would be very hard for them to do and they would have to go to court and you would be notified.Did tell me though if this had anything to do with your bank like your mortgage or something like that they would have an easier time getting a levy.Same with garnishment..very tough for someone to do.I want to thank all of you for all your help

that is a great idea nascar devil,I had no idea you could do that,how would I find their web site...I know.... a lot of hand holding sorry...

Start with Google

i will do that thanks

can a collection agency or attorney debt collector get into my check account .if i had a repossesion car plus debt in credit cards.also can they take my irs refund check?

hello claudia, Just so you know we are doing our own debt settlement instead of using a company.In fear of the creditors getting into our bank accounts we have opened up a seperate account with another bank. That has been advised from many people. Read above what one of the guests wrote..he asked his lawyer.I don't think they can take your irs refund check,but not positive about that.Maybe someone else could help you with that.

they got a court order and put a levy on my account. When i called the attorney he said they have been sending notices.. however i moved from the address they had on file about 2 yrs ago.... can they still take my $?

if a judgement was granted for a levy from a cc company could they keep my income taxes without the irs sendinf me notice

Anonymous... Though you changed your address, you owe the money to the creditor and the creditor can garnish money from your savings account or your wages if they have received a judgment against you.

IDK... The tax refunds can be used to pay off your credit card company. This is true in case of your state tax refunds. However, your Federal refund is safe from any attachment for private debts.

what if you only receive ssi, veterans pension, dpw that's it no other income and don't own nothing help answer please?????

Your creditors won't be able to garnish your SSI or veterans pension in order to recover their dues.

Anonymous, they'd certainly need to sue and get a judgment!