How long does your bank account stay frozen in a bank levy?
A bank levy can quickly freeze a person's account after a creditor obtains a court judgment. The duration of the freeze varies by state, typically lasting from a few days to a few weeks. Certain funds, such as federal benefits, may be protected from levies, but individuals must understand the limitations of these protections.
- ▪A bank levy allows creditors to freeze funds in a bank account after obtaining a court judgment.
- ▪The length of the freeze can vary, lasting from a few days to several weeks depending on state laws.
- ▪Certain federal benefits are protected from bank levies, but individuals may need to prove their funds are exempt.
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MoneyWatch: Managing Your Money How long does your bank account stay frozen in a bank levy? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications.
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