Are you an ICICI customer and your money is locked showing lien balance. Then just get rid of it with getting connected to the customer care department of ICICI Bank.
Why Lien is Marked on Bank Account?
Lien amount is enrolled by the bank as a security against any existing account or any amount taken as loan from respective banks. When there is a lien against your bank account, it means that some or all of your funds cannot be withdrawn and used. Someone like a creditor or attorney must have filed legal paper work with the bank to freeze down the fund present in the account of the holder. These funds are currently not available to the used and may be subsequently turned over to the other party pending with further action to satisfy the claim against the account holder.
The ICICI bank bears a paramount right of set-off and lien. This is irrespective of any other lien or charge that is in present or in future. This might be held or balanced lying on any account of the customer irrespective of being single or joint accounts. The following can b extended to all amounts payable by the customers arising due to icici bank services extended or as a result of any other facilities that might be granted by the ICICI bank to the customers.
How to Remove Lien Amount in ICICI Bank Account?
Here comes a step by step instruction to remove lien from the account holder:-
Indentify the lien in the first place and who is the party in particular behind the child support. They have had previous dealings with the particular creditor or other actions have been taken. The account holder might have received notice of the court hearing or received any kind of letter of judgment against the account bearer. On behalf of this, the account holder can contact the bank and ask why the funds are frozen and who the lien against it is. Now the ICICI bank will provide with the name and contact details of the person who requested for the lien. This will be provided by the bank manager. Then the account holder should contact the creditor or attorney directly to discuss the case.
Obtain the details of the funds that are attached in to the lien. It might happen that certain funds in the bank account might not be frozen by the bank. These include the social security and veteran’s benefits, other government funds or pension. Now the bank will request for paper work providing with funds that should not have been frozen. The bank might request paper work providing these the funds should not have been frozen, or if direct deposit is made, they will be able to identify it immediately from the source. Then the demand to have those would be unfrozen immediately.
The third process would be vacating the judgment. This is a possible way in which the account holder might be able to have the bank lien dropped through the above process. Like if the account holder has received a court summon after the matter and is not able to appear in the court due to any health issue then there will be possible reason to get excuses to have the lien vacated. The account holders can contact the court through the number supplied on the court summon to arrange for hearing. After that they can bring along certain legal representation to defend their rights.
Other than the above, the ICICI bank would prefer to help the account holder with paying back the amount to the creditor or the attorney. Once the debt is settled off then the bank will receive a notice to release the funds. After that the lien holder can easily access the account.
My name is Lovely and I have spent the past 5 years building money making blogs. I love to read, write, explore and try new things and I believe in creativity that is beneficial for society. I am a full-time writer and blogger specializing in entrepreneurship, banking, technology, education, and social media.