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.
Table of Contents
- What happens if you don’t pay back creditors? Jump
- Legal action and CCJs Jump
- Can creditors see your bank account balance (UK)? Jump
- What is an Order to Obtain Information? Jump
- What is a Third-Party Debt Order? Jump
- Third-Party Debt Order Vs Attachment of Earnings Order Jump
- How do I protect my bank account from creditors? Jump
- Related FAQs Jump
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:
So, who can see your bank accounts when you’re in debt? Read on for the facts without the jargon.
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.
Do you have to pay?
There are ways to have debt written off in the UK.
If you genuinely can’t afford your debt repayments then looking into whether you could have your payments lowered or written off might be just what you need.
If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.
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:
Can creditors see your bank account balance (UK)?
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.
Can you lower your repayments?
If you’re struggling to pay back your debt, then you might qualify for a debt solution.
Some solutions lower your monthly payments while others write off a portion of your debt.
To find out whether they could work in your situation, hit the button below.
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.
What is a Third-Party Debt Order?
After a CCJ has been issued, a creditor could instead apply for a Third Party Debt Order.
A Third Party Debt Order is a court order that allows the claimant to take money from another party that holds your money, which is usually your bank but could also be your solicitor or another party.
But before a Third Party Debt Order is granted by the court, an interim Third Party Debt Order will be issued…
What is an Interim Third Party Debt Order?
An interim Third Party Debt Order is granted when a creditor applies for a Third Party Debt Order.
The interim order freezes your bank account until after the hearing when a judge will make a decision on the full order. The hearing must take place at least 28 days after the interim order is put in place.
If not having access to your money for four weeks will cause financial hardship, you can apply for a hardship payment order to help you out.
Third-Party Debt Order Vs Attachment of Earnings Order
A Third Party Debt Order is different to an Attachment of an Earnings Order.
The former is typically used to recover the full debt from your bank, whereas the latter is a way of forcing you to make ongoing debt repayments which are deducted from your salary or pension.
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.
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.
“It will only get worse” 😩
It’s cliché to say, but with debt it’s true; the longer you leave it, the worse the problem gets.
There are straightforward and effective ways to deal with debt, but you have to know your options.
Fill out the short form to find out about the debt solutions that could reduce your monthly payments or even write off some of your debt.
How much could you write off? 