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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
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 2 other Bankruptcy Law Specialists are ready to help you