If I owe a bank money can they take my stocks or touch my money in the account of another bank???

Question

My account was charged off with Key Bank and they sent me a bill for over $3000 in late fees, imagine this!!!!! I only overdrew my account by $210!!!! The rest is late fees. Can they take my stock value and liquidate it. Can they access any of my other bank accounts with other banks???

Also I owe $50 to the state. Can they access my bank accounts or my stocks???? Thank you. And yes I was a bit of a brainless goof when I made those mistakes, but I am working on fixing my life, so don't tell me to get my c**p in order because this is what I am trying to do. Thank you for all honest and informing answers.

Answer 1

The bank can't take anything that is at a different institution.

If your stock is held by Key Bank, then you want to read the loan/creditcard/checking agreement and look for a "cross-collateral" clause. This is common, and means "we can take from one of your accts to pay another"...but again that's only accts held at the same bank.

I don't know about the state.  But for just $50...I would guess not. May just send it to collections.