0
Still curious? Ask our experts.
Chat with our AI personalities
Coach
Blake
ProfessorAdd your answer:
Earn +20 pts
How can you have a bank account frozen?
You can have a bank account frozen by going to an attorney or before a court of law and receiving a garnishment or judgment. If you receive a judgment, it is not enough, you have to have an order to freeze a bank account.
Can a joint bank account be frozen by a judgment creditor?
A joint account can be frozen by a judgment creditor of one owner. That can cause not only an indeterminate period of inconvenience for the non-debtor owner but also may result in the loss of half of the funds in the account. You should not open a joint account with another person who has a history of debt problems. You can read more about frozen bank accounts in general at the link provided below.
What can you do if your bank account has already been frozen and you need the money in the account to pay back some of your debt?
AnswerTry to vacate the judgment through the court that entered the judgment. This may temporarily release your bank account funds if you were not properly served.
What is frozen amount in bank?
A frozen amount in a bank meant that the deposit you have in your account cannot be withdrawn as it is "frozen". One of the reasons why account is frozen is because of a court order.
What happens if a judgment creditor places a levy on a bank account and the account balance is less than the judgment amount?
You get fined a fee by the bank, your account is frozen, and they will probably come after your paycheck through garnishment (even if the levy is removed) Levy is a step, garnishment follows.
