Q: Can a debt collector take funds from my savings account in NJ after a judgment?
I have uncashed checks from Horizon BCBS that will be deposited into my savings account. I have a court judgment against me for credit card debt but have not been notified by the debt collector about taking these funds. Can the debt collector access or take these funds once they are deposited?
A: The sort answer is yes they can if your name or your social security number is associated with the account. They do need to serve a bank levy on you
A:
Greetings, creditors typically are able to freeze the account by serving the proper court order on the bank. You may file an objection to the levy with the court. There are certain exemptions for funds that may not be levied. For example, your social security funds, disability payments, money from unemployment benefits, benefits from the Veteran's Administration (VA), certain welfare assistance as well as at least $1,000 which still remain in your account. There is no fee to file your objection with the court.
However, if your debts are considerable you should consult with a bankruptcy lawyer. You may be able to discharge all of this debt in bankruptcy BEFORE the creditor levy's your bank account.
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