What is a levy?

A levy is when a creditor has the right to seize a debtor’s property in order to satisfy the debt that the debtor owes. This is known as a “creditor’s right.” In Oregon, a creditor must first obtain a court order or judgment to legally pursue a levy. Once a creditor has a court order or judgment, they can then take certain measures, known as levies, in order to take possession of the debtor’s property. Common levies include the garnishment of wages or bank accounts, the seizure of property, or the placement of a lien on real estate. In addition, the creditor may also issue a “writ of execution” which authorizes the sheriff’s department to seize and sell property to pay the debt. It is important to note that some property is protected by law from seizure and cannot be seized to cover the debt. In Oregon, a creditor may not levy wages or bank accounts that are used to pay for the basic necessities of life such as rent, food, and clothing.

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What is a levy?

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