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?

You might also be worried that if you put more money into the levied account, that that money will be taken as well. One solution might be to open a new account, put your paycheck in it, and then try to write checks. However, if you choose to do that, you should be very careful.

Opening New Account Must Be Done Carefully

The safest thing to do is to open the new account with a different bank, one with which you have not done business before. Go down the street with your money and do business there.

Opening an account with the same bank, right after a levy, is very risky. The bank may freeze the funds upon deposit, pursuant to the court’s execution writ, and you would then be out of luck. Of course, depending on the timing, this might not happen, but is it worth the risk?

You should also use a bank you have never used before. You do not know what information the creditor has on you, and if they have records from a time when you used that bank, they may advise their attorneys and have them levy there as well. Better to put your money somewhere off the radar.

Object to the Levy ASAP

In addition to finding a place to park your money to pay bills, you need to get access to the frozen money as soon as you can. Believe it or not, you have defenses available under New Jersey law that, if properly raised, could get you some, or all, of the money back! You need to act quickly and object?

How do you object to the levy? By downloading my Bank Levy Survival Kit! The sooner you act, the sooner you can get in front of a judge.

What Do I Do Next?

An important thing to remember is that even if you get your money out of the levy, the problem with that creditor is going to remain. You may have won a battle, but you are still in a war! You need to resolve the creditor's claim and put it behind you.

If you live in New Jersey, have had your bank account levied, owe more than $10,000 on the judgment, and want to retain me to negotiate a deal with the creditor, then just click this link to schedule a call with me to discuss your case. The sooner you take care of it the better!

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! Are you a visual learner rather than a reader? Do you enjoy watching YouTube to learn new things? Then check out my 3-part video series on how creditors use lawsuits in New Jersey to collect debts. Just click here for more information on how to get the links!

But if this bank levy is a sign of a bigger problem with creditors, and you are thinking that you might have to file bankruptcy, then download my free book, Am I In Too Deep? A Guide to Knowing When You Need to File Bankruptcy in New Jersey.

You can also take the quiz to the right to find out more!

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