Restraining Notices

Discussion in 'Credit Talk' started by Trilivonel, Jun 2, 2003.

  1. Trilivonel

    Trilivonel Well-Known Member

    Would anybody know why when restraining notices are placed on bank accounts, it is not reflected on the bank statements?
     
  2. Flyingifr

    Flyingifr Well-Known Member

    Simple - the restraining notice is an order to the bank to prevent you from using the account. The money in it is still yours, just try to get at it. When the bak deducts the funds from the account and sends it to the creditor you will see the balance adjusted.
     
  3. Trilivonel

    Trilivonel Well-Known Member

    But will the restraint still be on the account once the money is seized?
     

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