RE: Can creditors freeze your foreign bank account?


If you have a state pension deposited into a foreign account, can creditors garnish your pension, and or freeze the account?

saritha Gold Asked on December 20, 2020 in Business & Finance.
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Depends on the country but generally no unless the creditor is the US government then most countries will co operate. However be advised that all foreign accounts must be reported to the US govt, if over a certain size ($10,000 US I believe) there is further reporting required, and the $10,000 or whatever limit is for ALL accounts in foreign countries. For example if you have $4,000 in 3 different banks in 3 different countries you exceed the threshold and must do the more extensive reporting

Silver Answered on May 15, 2018.
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