Did you just find out that your bank account has been frozen? If so, contact the Bromberg Law Office today to speak with one of our attorneys. We will provide you with a free consultation and explain what options you have to get your bank account unfrozen as quickly as possible. We have the knowledge and experience you need. We’ve been defending consumers since 1999.
What Does It Mean When Your Bank Account Is Frozen?
If your bank account has been restrained or “frozen” it means that you cannot withdraw money because a creditor has instructed the bank to hold your money for collection purposes.
How Did My Bank Account Get Frozen In The First Place?
If your bank account is frozen, in most cases it means a creditor obtained a judgment against you. In New York State it is legal for creditors to do this in an effort to put pressure on you to pay your debt.
Why Does My Account Have A Negative Balance?
If you went to check your balance and saw it was in the negative, it does not mean that the creditor took all of your money and more to satisfy their judgment against you. Creditors are actually allowed to “freeze” double the amount of the judgment against you. However, in the vast majority of cases, the money is still in your account.
How Does A Creditor Go About Freezing My Bank Account?
In, general, in order to freeze your bank account, a creditor must first file a lawsuit against you and also obtain a judgment from the Court. After they have done this the law allows them to contact your bank and instruct them to freeze your bank account.
After your account has been frozen, your bank is required by law to send you a form, within two (2) days, instructing you on how you can proceed.
Call Us Today
If your bank account has been frozen in New York give us a call today at 212-248-7906 to schedule a free consultation or fill out the contact form below. We have been defending consumers since 1999. We have the knowledge and experience you need.