What does it mean to "attach" someones bank account?

Question

I have heard this term before, how does it work?

is it like freezing it or is it just taking money out whenever there is some there to take?

how does it work??

do people who owe money for student loans, can they have this done?

WOULD THEY DO THIS IF I ONLY A FEW HUNDRED DOLLARS IN THERE?

SAY $500??

WHAT IF IT IS A BUSINESS BANK ACCOUNT FOR A SOLE PROPRIETORSHIP?

Answer 1

It means that someone got a judgment and they are going to take the funds from your bank account with a court order.

Yes, they can attach your bank account for student loans. They can also garnish your wages for a student loan.

Answer 2

A attachment of a bank account just does not happen without a court hearing, and the person who has their account attached knows they are not paying the bill. A court can order a certain amount of funds be taken from your bank account to pay what you owe, to whomever it is that you owe money to, for whatever reason.

Enya <3

P.S. They can't take what you don't have, so don't worry. If you owe money for student loans, the best thing to do is to call them up, let them know you don't have it, and offer to make a monthly payment. No matter how small you can afford, it is better to do that, and have a good credit report, then to ignore it and let it escalate to something more serious.

Most creditors are willing to work with you -- just be honest!

Answer 3

Attach means they hve now the right to your account. Thereafter whether they chose to freeze or to take from there they have to support their grounds .

Reason being with there may be other who has rights to your account arisen from some assignment which the court may not have knowledge of. Thus before the court gives an order
( even though the right to attach or the attachment order is granted ) to take money and the right to only withold withdrawal i.e to freeze is a different issue. It depends very much on the facts in hand guided by legal principles of right to take those moneys and that the rights is clear with sufficient proof. Otherwise it just be freezed once it is attached..

Its the amount owing debt to them which givesthem the attachment rights regardless of the type of the loan.

Answer 4

It means you're about to be raided. And you probably should've responded to some of those letters you received before now.

Yes, they can and WILL take everything you have in the checking account. The have gotten a judgement against you allowing them to do so. If you have a job, it's also highly likely that they have already started the process to garnish your wages as well.

There's no point in going to get another bank account, because the judgement isn't specific to just this one account. It'll only be a matter of time before they'll find the other and "attach" it too. This also goes for savings accounts. If you don't want them to take every last cent out of your paycheck (because they'll garnish as much as they're legally allowed to in your state before you ever see it), you'll probably have to cash it and deal in cash only for awhile.

If you thought you couldn't afford the payments before, you've really bought yourself a nightmare now. And now you have no options.

Answer 5

Attachment is a legal process that involves placing a lien on an asset pending resolution of a litigated claim. It is a means to protect a creditor from the debtor removing or getting rid of the asset. It is frequently done as a means of enforcing a judgment; the creditor gets the sheriff to "attach" property of the debtor, which can then be sold to satisfy the debt.

Answer 6

It means puting a lien against your account and the person you owe takes what you owe them good luck