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Yes! A bank execution is valid even on joint accounts with others who are not party to the action. As long as the Defendant’s name is on the bank account the levy may be proper. There are specific defenses to a bank execution and you will want to speak with a licensed consumer debt attorney to know your rights and defenses.
You have 15 days from the date of the bank levy to file paperwork to object to the levy. Once filed your bank will hold the funds until you go to court to have your objection heard. The filing of a bankruptcy will stop the levy from occurring and the funds will be returned to you.
If you fail to take action timely the funds will be transferred to your creditor and you will not be able to get them back even if you have a valid defense to the levy.
Once a court judgment has been entered against you, a creditor can hire a Marshal to levy your bank account in order to pay your debt, leaving nothing in your account and bank fees to pay.
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