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Are accounts held by a Financial Institution for an obligor as collateral for any and all debt owing, available for attachment?

April 26, 2017accounts collateral debt financial institution held obligor owing

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Are accounts held by a Financial Institution for an obligor as collateral for any and all debt owing, available for attachment?

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If there is a debt outstanding and the security cannot be withdrawn by the obligor to the extent of the debt, the funds are deemed not “available” in the account for attachment. However, funds exceeding the balance owed on the debt are available for seizure.