A Bank Levy – The facts about who can gain access to your bank accounts!

Bank levies are court orders from a judgment against a person or business for not paying a creditor, a bill or taxes.  Bank levies are often issued by a court but can also be issued by the IRS if taxes are due.

Bank levies are totally legal.  In fact, if the bank receives a notice from a court ordering a levy on a company or an individual’s bank account, the bank must honor this request.  If the bank does not honor the order for the levy, the bank can be sued.  Therefore, the bank is forced to take an individual’s money from any of their accounts to pay the creditor who is owed.  This can involve a person’s entire funds or just a part, depending on what is owed to the creditor or lender.

Bank levies can also be put on financial institutions, such as large banks, in order to make them pay extra taxes above and beyond what they already owe. The purpose for this extra hardship on financial institutions is to keep their spending at bay and to force banks to spend carefully, avoiding things like bonus payments and overspending.  Bank levies of this type are often considered as punishment by the overruling arm of the government on financial institutions.

Vivix Credit Solutions knows that a bank levy is not a sudden happening in which you wake up one day to surprisingly find all your funds have been drained from your checking or savings account.  A bank levy is often the result of a long process of a person or a company ignoring overdue bills. If there are unpaid taxes and debt that goes unpaid, a bank levy is sure to follow.  If the IRS fails to hear from you regarding your unpaid taxes, this is the method the IRS uses to extract the money from you.  Ignoring your financial problems won’t make them go away.  Companies such as Vivix Credit Solutions was created to help out in situations just like these.

If you need to get some help, Vivix Credit Solutions offers the help you need, beginning with a free consultation.  Contact Vivix Credit Solutions, and they will put you into the hands of highly qualified, registered and licensed law firms and companies that will give you the answers you need to act fast.  Check out their free consultation.  Time is of essence, so it will be important to act fast.  If the creditor you owe sees that you are desirous to pay off the debt, you can avoid further bank levies, because if the debt is not paid off, the bank levy will be continued and your bank accounts can remain frozen until the debt is paid off.  Also, some banks can charge up to a fee of $100.00 for a single bank levy, as well as fees for bounced checks that may come into the bank after the levy.  Vivix Credit Solutions will be able to help you with all of these details.