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    prosangel's Avatar
    prosangel Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 25, 2008, 05:34 PM
    Bank account levy
    I just received a notice of Levy on my Bank Account. My account has a hold on it, so does that mean I can still be able to keep the funds in my account if I agree to a payment & file for an exemption on my accounts. Or is that monies GONE!
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    May 25, 2008, 06:40 PM
    Generally a levy freezes the account for a period, before the money is actually removed and given to the judgement holder.

    As far as getting the creditor to accept a payment schedule, why would they? They can take all of what's in your account.

    If you legally can get an exemption that may be your better bet.
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