How To Stop Your Creditors From Taking Money Through A Bank Levy
We have become accustomed to being able to access our bank accounts 24 hours a day, seven days a week, whether we are using a bank card, writing checks or withdrawing cash from an ATM. If your bank account is frozen because a levy has been issued against it, that can bring your life to a screeching halt. Fortunately, there are ways to remedy the problem.
At Lefkovitz & Lefkovitz, we have helped thousands of people in Nashville and the surrounding areas stop their bank accounts from being levied to pay creditors by filing bankruptcy. Our attorneys understand how frustrating it can be to suddenly have no access to the money in your account. We will do everything we can to help you out of this situation and back on the road to financial health.
Can They Really Just Take My Money?
The short answer is, yes they can. If you have not paid your debts, creditors can levy your bank account to get the money they are owed.
It is important to note that Tennessee prevents creditors from taking certain funds, like:
- Social Security payments
- Welfare payments
- Child support payments
- Workers’ compensation benefits
Government organizations, like the IRS, typically use a bank levy to collect their money when you fail to pay. This is quite legal and it freezes your bank account so some or all of the money is inaccessible to you. If you have your wages deposited automatically into your account, those will be frozen, up to the point that your debts are paid, as soon as they enter your account. This probably leaves you with no way to pay your other expenses.
Our lawyers will sit down with you and discuss the benefits and possible detriments to filing bankruptcy. One of the benefits is that it puts an automatic stay in place, which prevents your creditors from continuing with the levy against your bank account. We will help you find the right solution to get debt relief and get you out of your current situation.
Let Us Stop Your Creditors From Taking Money Right Out Of Your Bank Account
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.