Can a Creditor Freeze Your Bank Account in Texas?
- According to the Fair Debt Collection website, a creditor must file a lawsuit with the local court and win the case against you before freezing your bank account in Texas to cover unpaid debt.
- The judgment may appear on your credit report, which can lower your credit score. Also, if the creditor wins the lawsuit, you may be responsible for all court-related fees and expenses.
- Contact the creditor to discuss your payment options before you are taken to court. Based on your overall financial situation, the creditor may be able to make you a settlement offer or provide you with a payment plan for your delinquent account.