A creditor may freeze your bank account in an attempt to obtain payment for a debt. They may freeze up to two times the amount of money you owe, and you will be unable to access this money. Any additional money that you deposit may be frozen as well. A freeze on your bank account can mean that you have no money to pay your rent, buy groceries or even pay for a taxi.
Freezes on your bank accounts are just one of the ill effects you will suffer if you have overwhelming debt. Creditor harassment, repossession, foreclosure and wage garnishment are all additional penalties you may suffer if you do not act quickly and work with an attorney who can help to protect your property and assets.
If you are facing overwhelming debt and see no way out, a Chapter 7 or Chapter 13 bankruptcy may be the right option for you. When you file for bankruptcy, all creditors are immediately prohibited from contacting you or taking any action against you to collect the money they are owed - and this includes freezing your bank account. Additionally, your debt may be discharged (as in a Chapter 7 bankruptcy) or you may be able to work out a payment plan (as in a Chapter 13 bankruptcy.)
To schedule a consultation, call us at 631-289-4600 today. Payment plans available if qualified and we have weekend and night hours available for your convenience.