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Submitted by CraTax Rescue Support

Legal Collection Action: Bank Levy

Has the CRA filed a levy with your bank, leaving you unable to pay your bills, your rent or mortgage, your car payment or to feed your family?

Contact us now. We can stop bank levies, but we must begin quickly.

If you ignore CRA notices, phone calls and letters, the CRA will start what they call Enforced Collection. Again, it is a way for them to get your attention and collect the delinquent taxes. Locating the bank or other financial institution is not difficult for the CRA. They can do a search on associated Social Security numbers and turn up quite a bit of information on a taxpayer, from banking institutions, to property, stocks and bonds, etc.

The Process And Consequence Of Bank Levy

Seizure of your bank account is the ultimate action in their collection efforts. The CRA sends a Notice of Levy to the financial institution informing them that you owe taxes. The CRA requires them to freeze all the money in your account(s) as of that day. This includes all accounts with your social security number. You are then unable to use any of those funds to pay your bills. This freeze may cause your checks to bounce and overdraft fees accumulate. The bank must remit the funds to the CRA. Your credit rating will plummet due to the failed payment such as mortgage or car payment.

What To Do To Release The Bank Levy

Before the tax problem gets worse, contact us Today. At CRA Tax Rescue, we are very experienced to help you to address your Bank Levy problem.  To make it easier for you to get started with the process of tax problem solving, we offer an initial consultation that is completely FREE and CONFIDENTIAL. You will get a detailed review of your tax situation and give a customised recommendation in the meeting. Then you can decide what to do from there. No Obligation!

Give us a call at 866.611.6482 or complete the Contact Form to your right to get started right away!