Did you know creditors can attach checking and savings accounts.?

[Incognito]

Before you say "no way" it happened to a family member of mine over a $5000 loan from a credit union. My family had their checking and savings at a well known bank, they drained their checking,savings and minor child's savings of approx. $2,800. Maybe it depends on the lender, etc. but it can be done.
What has been your experience?
Has it happened to any of you?
The IRS is the only one who can garnish wages.
Maybe it depends on what state you live in.
In Texas, they can only garnish wages for child support arrearages or IRS taxes.
Esmeralda - a debtor can have life occuring things that are out of their control (death in family, etc.) in which they have difficulty paying creditors. Creditors increase interest rates because of delinquent payments which only contributes to the debtors hardship.
Yes, some debtors are nothing more than thieves but there are circumstances where some debtors genuinely have a life changing event that makes it impossible to pay off creditors.
People who can't afford to file bankruptcy are looked at with more disdain than those who do, why is this?

[Esmerelda]

If you don't pay your bills, its stealing. They can also garnish your wages and take your tax refunds. The only way to avoid this is to declare bankruptcy and even then, some debts are not forgivable.

[Crazy Cat Lady >^..^<]

well obviously they had a judgment against them and did not show up for court and lost there case..Then yes they had a right to drain there accounts

The IRS is not the only one who can seize your accounts