How many years must you have a delinquent debt in order to have your account frozen?

A friend of mine was very dismayed to find that his bank account (checking and savings) was frozen, just like that.....no warning, court papers or anything like that. Just tried to use his ATM card one day and it didn't work.


From what I understand, it was an old debt that had been charged off more than four years ago.


Is there a magic number of years when they go and freeze the account.


Also, aren't they required to serve the debtor with papers before doing it, or do they just sneak up and do it so the debtor wont withdraw all his cash?

How many years must you have a delinquent debt in order to have your account frozen?
If his checking account was frozen due to a default on a loan it could be because it was with the same bank. Lenders in most states I think have to have a court order to freeze any assests you may have for collection of a debt.
Reply:Now your "Friend" didn't get any warning. He never got notices when he quit paying his bills that the bank or card company might like to get paid. How many statements and bills were ignored during the whole time? Did he read the user agreement he agreed to when he got the card?


Basically he borrowed money and decided to ignore his debt and resposibility.


Yes they can freeze his accounts pending resolution at any time...


No fre lunches out there...
Reply:Is the creditor the bank? If so you can understand the bank deciding not to let your friend spend any more money that does not belong to him or her