Protecting Your Business

What Are The Duties And Liabilities Of A Third Party After A Levy?

A third party could be a bank that is served with a bank levy and is obligated to withhold money and pay it to the levying officer. Or it could be an employer that is required to withhold a percentage of the debtor’s wages each pay period. It could also be a company that owes accounts receivable to a judgment debtor. The general rule is that third parties must comply with a levy or be potentially liable for damages.

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