If you have non-exempt funds according to your state's law, a creditor can attach to those funds to help satisfy the debt.
Advice on this forum is for informational purposes only and should never be mistaken as a substitute for legal advice. If you are in need of legal advice, you should consult local legal counsel.
Whether the funds in your bank account may be used to satisfy student loan debt depends on the type of student loans, the status of the debt, and the nature of the funds in your account.
For example, in New York, your bank account cannot be frozen if the balance is less than:
$2,500 - if your account contains directly deposited exempt benefits, including Social Security, SSI, Veterans benefits, disability, pensions, child support, spousal maintenance, workers compensation, unemployment insurance, Public Assistance, Railroad Retirement benefits, and/or Black Lung benefits. Banks and collection agencies can suffer penalties if they do not honor these exemptions. Moreover, because it is often hard to tell the source of funds, banks are reluctant to freeze accounts for fear of running into these penalties.
If your student loans were backed by the government, then different rules apply, but you would still have some protections for your bank account.
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