Household debt hits record highs as creditors turn to aggressive collection tools

US households are carrying a staggering $18.5 trillion in consumer debt, a figure that continues to climb as more borrowers fall behind on payments.

Creditors increasingly resort to bank levies to recover funds

As delinquencies rise, creditors are employing more aggressive tactics to recoup what's owed, with bank levies emerging as a potent weapon. Unlike wage garnishments, which gradually deduct a percentage from each paycheck, bank levies freeze and seize whatever funds sit in an account on a given day, making them a jarring and swift means of debt collection.

When a creditor levies an empty account, the process is far from straightforward.

While the account remains