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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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i recently had a major bank freeze 4 of my bank accounts 2

Customer Question

i recently had a major bank freeze 4 of my bank accounts 2 are biz accts as well as my 2 personal accts there reasoning was hisk risk ???? the conseqinces to this is far from knowing my totals loses in biz operations or lialabilites from returned checks and possible losses in i. e. cancellation of my small biz group health ins ect ect and on and on.... they will in fact return any monies to me after 10 working days but be then damage control will be excessive !!! Can this large banking inst do this ???
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

WebLaw :

*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

WebLaw :

Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

WebLaw :

Unfortunately if you have the loan with the bank, the bank has a right of set-off against any accounts held at that institution and therefore may unilaterally freeze the accounts. The remedy to quickly unfreeze the accounts would be to file a chapter 11 bankruptcy.

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