Can a Collection Agency freeze my account?
April 11th, 2012 by Questions
hello my question is this one. im from argentina but im living in canada as a citizen but i have problems with my credit card for about a year now a Collection Agency is taking me to court but i have no job in canada my only income is from my office in argentina but is not enough money to pay them i have a saving account with $25,000 in there so it mean they gonna freezze my account and i will never withdraw my money until i pay?
Posted from: Ontario
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April 11, 2012 at 9:34 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
A collection agency can take you to court, this is a normal step that is taken when collecting debt. This doesn’t mean you will be going to jail if you don’t pay your debts, but what will happen is the collection agency will obtain a judgement from the court which gives them the ability to seize assets or garish wages. If you have $25,000 sitting in a bank account you can expect that they will seize those funds.