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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2870
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Hi, I wanted to know if I have a writ issued but has not been

Resolved Question:

Hi, I wanted to know if I have a writ issued but has not been served, are they able to hold money in my bank account?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
If it is a judgment, yes, the bank must comply with the order, regardless if you have received notice of it. There is usually a hearing to determine what assets can be used to pay the debt, normally a citation to discover assets, where you can use any state exemptions to protect the bank account that may be available. A bankruptcy can discharge the debt immediately once filed and release the hold on any funds. Thank you for your question and good luck .
Customer: replied 7 years ago.

So, my only option is to file bk for this matter as soon as possible?

 

Expert:  Terry L. replied 7 years ago.
No, that is not the only option. You can do any of the following:
1. file bankruptcy
2. negotiate a repayment with the creditor.
3. let them freeze you bank account/seize assets/put a lien on your home/garnish wages until the debt is satisfied.
Bankruptcy is a good option to get a fresh start though.
Customer: replied 7 years ago.
Ok, will the writ tell me what they will be doing? Or is it pretty straight forward with all of the above? Thanks
Expert:  Terry L. replied 7 years ago.
Those are their options in most cases,depending on what you have. The writ should set that out though.
Customer: replied 7 years ago.

It was from a creditor, and if I file bk will that stop all of the above you mentioned?

 

Expert:  Terry L. replied 7 years ago.
yes, all would stop immediately the moment the bankruptcy case is filed, you get automatic stay protection from all creditors instantly.
Terry L. and other Bankruptcy Law Specialists are ready to help you

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