Can a bank levy your account? I heard only the IRS can do so. My entire bank account got garnished because of a car repossession. I'm totally broke and I have no idea what to do!! =[
Does anyone know somewhere where I can get free legal advice? I'm really stuck
2007-03-22 12:12:45 · 4 answers · asked by kperkinspiepoo 1 in Business & Finance ➔ Personal Finance
Go inside the bank and grab the bank manager by his tie and punch him in the face.
2007-03-23 03:34:29 · answer #1 · answered by ajs 2 · 0⤊ 0⤋
No the bank can't but companies you owe money to can go the legal route and have your paycheck garnished and accounts frozen. All legal. The bank can't.
2007-03-26 03:26:44 · answer #2 · answered by Pepper 6 · 0⤊ 0⤋
They can with a court order. If your bank turned over the funds without a court order you can force them to put it back. But they were probably following such an order. You owe the debt until it is paid, dismissed by a court, such as bankruptcy.
2007-03-22 13:28:55 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Sorry, you're out of luck. When you sign the contract for the car, there is usually a clause that allows them to collect by any means necessary.
One thing that I would look at is..... When they repossesed it, they probably sold it at auction, and paid off part of the loan. Make sure that they didn't collect more than the value of the loan at the time that they took it.
2007-03-22 12:25:43 · answer #4 · answered by pnk517 4 · 0⤊ 0⤋