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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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My husbands checking account was levied due to a judgment that was against him. The

Resolved Question:

My husband's checking account was levied due to a judgment that was against him. The bank is holding the funds until 7/5/2011 at which time they will forward them to the attorney representing the creditor. My question is if he files Chapter 13 bankruptcy, will the bank have to release the funds immediately with proof of filing or are we out of luck because the levy was placed before he filed? Thanks!
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.
Hi JACustomer,
How much money is in the account?
How much is the judgment for?
Customer: replied 6 years ago.
There was almost $4000 in the account. It is for his business. He's a sole proprietor. The judgment is for $7900.
Expert:  cfortunato replied 6 years ago.

Filing a Bankrutpcy will only protect $600 of your husband's bank account, as this is the allowable exemption for cash. It would therefore not make sense to file a Bankruptcy - which will cost much more than $600 to file - to try to protect his bank account.


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