Can Creditors See My Bank Account Balance?
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
Do you wonder if creditors can see how much money you have in your bank account? You’re not alone. Many people worry about this too. Every month, over 12,000 people visit this website seeking advice on topics related to debt.
In this article, we’ll answer your important questions:
- What happens if you don’t pay back your creditors?
- Do you have to pay all the money back?
- What are legal actions and CCJs?
- Can creditors see your bank account balance in the UK?
- How can you protect your bank account from creditors?
We know that owing money can be tough; some of our team have been in debt too. Don’t worry; we’re here to help you understand how to handle your debt and protect your bank account.
Let’s dive in!
What happens if you don’t pay back creditors?
If you don’t pay creditors back then you will be chased for the money and could have to pay additional fees and interest.
You might be chased by the creditor, or the creditor could employ a debt collection agency to chase you on their behalf, such as Lowell Debt Collection.
If you still ignore them or refuse to pay, it’s likely that the creditor will take legal action to get a judge to make you pay.
Can creditors see your bank account balance (UK)?
Can debt collectors see your bank account balance, and what about creditors themselves? These are two very good questions that I frequently get asked by worried debtors. It’s certainly a topic that crops up online frequently as well:
Creditors cannot automatically see your bank balance. But they can apply for a court order to make you disclose relevant financial information.
This order is called an Order to Obtain Information.
Legal action and CCJs
Creditors can only initiate legal action once they have sufficed pre-action protocol, which includes writing to you to try and come to a resolution. If no payment plan is agreed upon or no debt solution is used, the creditor can start by making a claim to the County Court.
If a County Court judge agrees that you owe the money (you can make a defence!), then a County Court Judgment (CCJ) will be issued against you. This is a court order telling you how to pay the debt, which might be all the money upfront or through instalments.
If you don’t pay the debt, the claimant could then ask the court to use debt enforcement action. The most popular enforcement action taken are:
How a debt solution could help
Some debt solutions can:
- Stop nasty calls from creditors
- Freeze interest and charges
- Reduce your monthly
A few debt solutions can even result in writing off some of your debt.
Here’s an example:
Situation
| Monthly income | £2,504 |
| Monthly expenses | £2,345 |
| Total debt | £32,049 |
Monthly debt repayments
| Before | £587 |
| After | £158 |
£429 reduction in monthly payments
If you want to learn what debt solutions are available to you, click the button below to get started.
What is an Order to Obtain Information?
An Order to Obtain Information is a court order whereby the subject of the order must supply their financial circumstances to the applicant under oath, including current savings etc.
Creditors will apply for an Order to Obtain Information if they are trying to work out what’s the best method of enforcement action to recover the arrears.
They’re most likely to seek this information if they’re considering a Third Party Debt Order to recover the money.
How do I protect my bank account from creditors?
Your bank account is safe from creditors unless they’ve applied for a Third Party Debt Order and an interim order is currently in place.
But you can fight back when the interim order is made. Citizens Advice lists several great excuses to argue against the final order being issued, which would stop creditors from taking money from your bank account.
Thousands have already tackled their debt
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Related FAQs
What is a Deduction Order?
A Deduction Order can be set up by child maintenance services to collect child maintenance arrears from your bank without going to court.
Can debt collectors take money from your bank account in the UK?
No, debt collectors cannot take money from your bank account unless you give them permission to take payments as part of a repayment agreement.
How do debt collectors find you in the UK?
They often use public information and databases to track down your current address.
How can I hide from debt collectors?
Hiding from debt collectors won’t resolve your debt problem and could make it much worse, including leading to legal action being taken against you.
I know it can be daunting, but it’s much better to tackle your debts head-on. There are many ways out of debt and even debt solutions that can write off some or even all of the debt you own.
It’s always best to get free personalised advice from a debt charity to learn your most advantageous debt solution.
