Can the bank refuse to let the debtor open an account?<\/u><\/strong><\/h4>\nIn most cases, a bank will allow a debtor to open and manage a bank account even while they are in the process of bankruptcy, although in some rare cases the bank can refuse if, for instance, there are grounds for suspecting that the debtor will use the bank account to commit money laundering crimes, or if the debtor has a record of acting violently towards bank employees. From the moment the debtor\u2019s request to open an account is received, the bank must make a decision and inform the debtor of it by mail within the timeframe of 15 days.<\/p>\n
Moreover, if one the exceptional conditions listed above applies, the bank can allow the debtor to manage a bank account, but under certain predetermined conditions. The debtor may be asked to provide a certificate of confirmation to the specially appointed manager or the officially appointed receiver.<\/p>\n
Seeking an attorney\u2019s assistance regarding the sequestration of a bank account<\/u><\/strong><\/p>\nNavigating a bankruptcy is a complex task which places the debtor under a host of restrictions and obligations. Any action taken by the debtor may have unintended consequences against them. Therefore, to get the best and most professional guidance, we recommend seeking an experienced attorney with expertise in the field of insolvency. Our office will be happy to be of service.<\/p>\n
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Bank account attachment is one possible restriction during an insolvency procedure. A debtor who files for bankruptcy is subject to various restrictions and obligations. In fact, the moment the debtor is ordered into receivership, all collection of the debts are frozen until the bankruptcy process is investigated and completed. One of the main restrictions imposed…<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[378],"tags":[],"class_list":["post-79679","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-en"],"acf":[],"yoast_head":"\n
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