A levy on your New Jersey bank account can create havoc with your ability to handle your finances. Outstanding checks will not be honored, and no new ones can be written that will be any good either. How do you pay your bills? But another, bigger, question is . . . 

How Long Will the Bank Account Be Frozen?

How long will it be before you can use the account again and deposit money? The answer to that question, however, is not definite. The reason is, how long it takes depends on the creditor and, surprisingly, you!

It Depends on the Creditor

The length of time the money is frozen depends in part on how long it takes the creditor's attorney to take action. There is a certain procedure that is followed under New Jersey law when it comes to bank levies. First, the creditor's attorney gives a county court officer levy paperwork identifying the bank (and sometimes your account number). That officer then goes out to the bank, at some point, and serves the levy paperwork. The bank will then freeze the funds (and charge you $125 for doing it)!

The court officer then reports to the creditor's attorney that the funds are frozen. This does not put the money in the creditor's hands, though; it just takes it out of yours. The bank is holding onto it.

In order to get the money, the creditor's attorney must then file a motion with the court asking for an Order for Turnover of Funds. This is the court order that allows the court officer to take the money out of your account, which then effectively releases the account (most times with a $0.00 balance).

It Depends on You

But it also depends on whether you take prompt action; your fate is somewhat in your hands. Once you get the notice of the bank levy, you don't have to wait for the creditor to make a motion to get the money. You can strike first by making a motion to object to the levy. You have rights and defenses and the ability to get back at least some of the money.

But how do you do that? Simple! Just download my Bank Levy Survival Kit and follow its instructions. Courts try to schedule hearing dates as soon as possible to avoid your money being tied up any longer than it has to.

Win the War, Not Just the Battle!

But getting your bank account unfrozen only wins the battle, not the war. Unless the creditor gets enough money out of the account to satisfy the debt after the battle, you still have a debt to deal with. You need to make a deal for affordable payment arrangements with the creditor's attorney.

Don't want to do this yourself, or have tried to do it and failed? I can help! If you live in New Jersey, realize that you need a lawyer to represent you in negotiations, and are ready to take action, then call my office right away at 856-432-4113 or contact me through this site to schedule an appointment to meet. I have represented creditors for many years and am familiar with the collection industry and how it ticks. Put my experience to work for you!

Want more information on how to fight back with your creditors? Then download my free book, The Biggest Secrets Your Creditors Don't Want You to Know. Become empowered and protect your rights!

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Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.

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