How much can a creditor levy upon your bank account? The answer depends on a number of factors:
The first, is the amount of the judgment awarded and who it is awarded against. If the judgment is awarded against you then the limit is the amount of the judgment and how much you have in the bank account being levied upon.
For example, if you owe $5000.00 according to the Judgment and the Judgment is against you and the creditor levies upon a bank account in your name and there is $10000.00 in the bank account, then the creditor gets the $5000.00 plus interest at the rate of 15% from the date the Judgment was entered plus the cost of obtaining a Writ of Execution ($25.00).
Using the same facts as above but this time you only have $2,000.00 in your bank account then they get to take the entire $2,0000.00. The $2,000.00 is applied against the amount owed in the Judgment. The creditor can then go after your other assets or this bank account until the judgment is satisfied.
The limits are that the creditor can only go after bank accounts in the name of the individuals or entities named in the Judgment. So if the Judgment is against WHO, INC. and you have a personal bank account in the name of John Doe. They can’t levy on your personal account because John Doe is not named in the Judgment.
But they can go after any bank account in the name of Who, Inc.
