Frozen bank accounts

Frozen bank accounts

Frozen bank accounts

What exactly is a frozen account?

A frozen account is an account in which no depositor can make any withdrawals or purchases. The main reason for an account to be frozen is if the account holder does not pay for their purchases that have been charged to their account. Deposits can be made, but the money that is deposited cannot be used as it is frozen with the account. Even checks written against the account will be of no use while the account is frozen.

Title – Who can block bank accounts?

Every time you engage in a transaction with a company, you must reverse the transaction. This creates debt. The person you owe money to becomes your creditor. As such, if you don’t pay your creditor when due, the creditor can freeze your account. All the creditor has to do is enter a judgment against you. When this happens, your account is frozen until you pay what’s due.

Usually, when your account is frozen, you will receive a notice from your bank letting you know your situation and what you need to do to unfreeze it. There must be an attorney number listed. You will need to hire a lawyer to unfreeze your bank account. Even if your bank account is frozen, no creditor has the right to withdraw money just because the money is there. In order to receive the money owed, the creditor must obtain a turnover order from a judge.

If you write checks against your account while your bank account is frozen, you will need to take steps to contact everyone you sent checks to. This is because these checks will bounce as the money cannot be used. Just contact people and tell them what happened. Explain that your account has been temporarily frozen and that you are taking steps to unfreeze it. Just ask them to hold the checks until you notify them otherwise. Once you contact them, they can cash the checks.

Until you resolve your situation, you will need to avoid using your bank account for the foreseeable future. This means you cannot make any deposits and you must also cancel your direct deposit if you have one. If you have bills to pay, ask a friend or family member to do it for you.

Title – Can the government freeze your bank account?

Normally, the government cannot freeze a bank account. Since you don’t actually buy anything from them directly, they have no way to store your money. Also, the government as an entity does not own or own a bank. They use one. That’s how they pay their bills. But technically speaking, they have no way to store your money.

The only time the government can freeze an account is for security reasons. For example, if they suspect terrorists are using money in an account, the government can step in and freeze the account so the money can’t be used.

LIST:

Bank of America – 1-800-432-1000
JP Morgan – 1-800-935-9935
Wachovia Bank – 1-866-647-7365
Wells Fargo Bank – 1-866-647-7365
Citibank – 1-800-950-5114
Washington Mutual Bank – 1-800-788-7000
SunTrust Bank – 1-800-786-8787
US Bank – 1-800-872-2657
Regional Bank – 1-800-734-4667
Branch Banking and Trust Company – 1-800-226-5228
National City Bank – 1-888-622-4932
HSBC Bank USA – 1-800-975-4722
World Savings Bank, FSB – 1-866-647-7365
Nationwide Bank – 1-800-841-9986
PNC Bank – 1-888-PNC-BANK
KeyBank – 1-800-539-2968
ING Bank – 1-800-ING-DIRECT
Merrill Lynch Bank USA – 212-449-1000
Sovereign Bank – 1-877-768-2265
Comerica Bank – 1-800-292-1300

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