index page

Can a creditor freeze my bank account in FL to collect there money?

Date: Sat, 02/17/2018 - 10:33
Submitted by unlinedalloy on Sat, 02/17/2018 - 10:33
Posts:
Credits:
[Donate]

Hello, I have a few questions I'm hoping someone can help me with. I've heard from family/ friends that a creditor/ collection agency can freeze your bank account for money owed. I personally know someone it happened to in Pennsylvania ( i'm in Florida).Typically how does it work? I have some debt that I owe to 1 credit card company for around $4,000 (3 different cards, same company) and I had a repossession for $9,000. I also have medical bills in collection. I had some financial troubles to say the least about 18 months ago. I haven't made any payments on the accounts and they are in collections. I do have Lexington Law Firm and they have done great with getting 23 items removed from my credit reports so far.
I now have a business (LLC) bank account in my name and also a personal bank account in my name. Is there any precautions I should take? Not keep money in them? Any help/ answers are much appreciated and thank you in advance.


A credit can levy your bank account only after winning judgment from the court. He has to file a lawsuit against you, win the case, and convince the judge to issue judgment against you.

Try to settle your debts asap. This is the best precaution you can take.


Submitted by ditchdebt on Mon, 02/19/2018 - 03:31

ditchdebt

( Posts: 675 | Credits: )


If you owe BOA for example on a credit card and you defaulted on that card and you have a bank account with BOA they have a right to offset after a certain time frame and they will. Any creditor must have a judgment awarded by the courts to levy or garnish any bank account to the best of my knowledge (I am not an attorney). As a debt negotiator you could settle for as little as a fraction of what is owed if you have the ability to do so.


Submitted by Chimpy on Fri, 03/02/2018 - 09:31

Chimpy

( Posts: 10 | Credits: )