Can I cancel my bank account before the creditors take my money?
I am in debt and my creditors keep harassing me about taking money from my accounts. If I withdraw all the money from the bank, can the creditors still collect?
Guardian Law Group PLLC
| C. David Hester
Salt Lake City, UT
Salt Lake City, UT
No, if there is no money in the accounts they can't make you put it back. Further,they can only get at your bank accounts if they have a judgment. *Unless you owe money to the bank that has your accounts. They may have language in their contracts that allow them to seize funds in your checking/savings if you become delinquent on a debt to them.
Answer Applies to: Utah
Replied: 1/16/2012
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Utah
Replied: 1/16/2012
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Froerer Hunter Ahlstrom, Attorneys and Counselors at Law
There are a number of ways that a creditor can attempt to collect on a judgment. One way is to garnish bank accounts and if you take the money out of the account. No, they cannot collect the money that way. That does not mean that there are no other mechanisms by which they can collect. They could garnish wages or file a writ of execution both of which are unpleasant. The only real way to stop creditor harassment is to settle with them or file bankruptcy if your debts are chargeable.
Answer Applies to: Utah
Replied: 1/17/2012
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: Utah
Replied: 1/17/2012
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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