We Can Defend Your Bank Account From Creditors
When your bank account is levied by creditors, it piles more weight onto your already overburdened shoulders. While it is legal for creditors to take this action, it does not help you get rid of your debt. You need an experienced bankruptcy to advocate for you.
For decades, Levitt & Slafkes, P.C., in Maplewood, New Jersey, has represented clients in debt relief matters. Our attorneys understand the law and will negotiate with creditors to the best of our ability.
Stopping Collection Efforts From Bank Levies
It is legal for a creditor to file a lawsuit and get a judgment to demand payment directly from your bank account. A bank levy is the means creditors use to accomplish this. In New Jersey, you are entitled to an exemption of $1,000 that can be applied to a bank account. Anything above and beyond that may be frozen to satisfy the creditor’s demands. The money will not be distributed until the court releases it, usually about 21 days after the levy has been executed.
Filing for bankruptcy puts an automatic stay in place that stops all action and contact from the creditor. It also protects you from actions creditors can take, including wage garnishment, levying a bank account and repossession of your car or other items. If creditors break the law and continue their collections efforts, there are stiff penalties our attorneys can bring against them. If your account is being levied, it is important to contact our attorneys as soon as possible. The longer you wait, the more difficult it will be to resolve the problem successfully. Getting your money back once it is gone can take a long time and it may be impossible, depending on the situation.
Contact Our Experienced Firm Today
At Levitt & Slafkes, P.C., in Maplewood, New Jersey, we have more than 30 years of experience helping New Jersey residents who need relief from a bank or wage levy. We want to do the same for you. Contact us to schedule a free initial consultation with our Essex County bank levy attorneys. Fill out our online form or call our Maplewood office at 973-323-2953.