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They can not close your accounts. They will however monitor all activity coming in and out of the accounts of the signer who is flagged for investigation. They will whipe those accounts clean every so with out a warning or ticket. The bigger concern should be if they levy the bank account, how many outstanding checks are you going to have that now will not clear? Many people end up with hundreds, if not thousands, of dollars in bounced check fees....which might make the bank close the account.
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How do you protect a checking account from being attached by a judgment?
Take all the money out and close it out as fast as you can.
What is money in a checking account called?
Money in a checking account is called demand deposit.
What if its disabilty money in your checking account how would a lien work then?
if you have a lein on you, can they take your disabilty money out of your checking account
If you have a joint checking account with your husband can he close it or remove your name without your signature?
He cannot remove your name from the account. However, he can close the account and then open a new account with the money. Just remember this can work both ways. With a joint account either person can go in and close the account out and then take the money and open themselves a new account. Most of the time it depends on who makes it to the bank first to close out the account.
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
If the mortgage lender and the checking account bank are the same does it help to open an account elsewhere to avoid them taking money from the account for delinquent payments?
it is my understanding that the only people who can take money from your account without your permission are the IRS to pay back taxes. unless you sign somthing giving the bank permission to take money out of your checking account I don't think they can do it. make sure you read the fine print of any loan document so you know that you are not giving them the right to take money out of your checking account.
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
What is a checkbook?
It is a booklet used to record checking account transactions. To keep track of the amount of money in your checking account
What limit can you put in a checking account in Florida?
what limit of money can you put in your checking account in Florida bank of America
