Can a Debt Collector Grab My Bank Accounts?

Recently, Gene Melchionne was interviewed by writers for Credit.com on the question of seizure of bank accounts. The interview was later picked up by MSN Money and Yahoo Finance because of the importance of the question.

When collecting delinquent accounts, collectors will many times claim to be able to seize bank accounts for the payment of the debt. It’s not so easy. But it is possible. In most cases, you need to be sued first, unless the bank account is with the same institution where the money owed. Read the article on
Credit.com for more.