DebtCare Can Help Unlock Your Frozen Bank Account
Pam Shimmerman
Financial Restructuring Specialist
Senior Legal Counsel
Degree Osgoode Law School
Degree Schulich School of Business
DebtCare Canada Inc.
We Specialize in Unlocking Frozen Bank Accounts
Do you need help with unlocking your bank account?
Having your bank account frozen is not fun. A frozen bank account will paralyze your ability to pay your bills because essentially money can go in but no money can go out. Depending on which authority freezes your bank account, you may or may not have an opportunity to get your account unfrozen and then get some or all of your money back.
Bank accounts are typically frozen by one of two different types of institutions – a creditor or the Canada Revenue Agency (CRA). The two processes differ but the end result is the same.
- In the case of a creditor: If your account has been frozen by a creditor, that creditor will have been required to sue you in civil court, obtain a judgment against you, and then take further action against you in order to freeze your bank account.
- In the case of the CRA: The CRA does not require a court order. An agent simply sends a notice to your bank and your account is frozen.
In the case of the CRA, you may not be notified that your account is about to be frozen – you’ll find out after the fact, when you go to use your bank card or account.
If you have a frozen bank account, you must act quickly. Once your account is frozen, you only have a short period (30 days or less) to stop the bank from remitting the funds in your account to your creditor.
No matter the situation, a frozen bank account can wreak havoc on your credit and finances.
If you have a frozen bank account, don’t wait.
Contact us today before it’s too late! Text “HELP” to 1 (855) 813-6058 or Call Now.
How to Make Your Bank Unfreeze Your Frozen Bank Account
Your bank account is your source of financial security, but it’s not always so secure. A frozen bank account is something many people have to deal with, and if it happens to you, you’ll need to learn ow to make your bank unfreeze your frozen bank account and take action fast. A frozen bank account […]
Frozen Bank Account Courtesy of the Tax Man?
Do you have a frozen bank account courtesy of the Tax Man? You’re not alone! Thousands of Canadians owe the tax man – this is a simple but often startling fact. Owing the Canada Revenue Agency (CRA) isn’t illegal, but that doesn’t mean the organization is lenient – far from it. If you owe, the […]
Are You Dealing with a CRA Frozen Bank Account?
Small Business Alert: Are You Dealing with a CRA Frozen Bank Account? The deadline for filing your business tax returns has passed – for many, this season is a stressful one, but if you filed on time and don’t owe, that stress if finally out of the way. However, if you do owe, or are […]
How to Deal With a Frozen Bank Account as a Result of a Canada Revenue Agency Tax Debt
When an individual or business has a tax debt owing to the Canada Revenue Agency, the Canada Revenue Agency will begin to pursue enforcement action to collect the debt. One method that the Canada Revenue Agency uses to collect debt is by freezing a bank account. A frozen bank account can be extremely disruptive and […]