In this podcast, attorney Frank Borgese discusses the issue of frozen bank accounts in NY. He describes what a frozen bank account is, how a bank account can be frozen, and what consumers can do to resolve the situation.

If you have discovered that your bank account has been frozen, call us today at (888) 801-7765 or fill out our contact form. We have the knowledge and experience necessary to get your bank accounts released. Let us, help you, like we have helped thousands of other people across the State. Here at the Law Offices of Graham and Borgese, we make debt relief easy.

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Transcript:

Today I want to talk about Frozen bank accounts. It can be extremely scary to discover that your accounts have been frozen by a creditor. Sometimes it can be very confusing as well, especially if you didn’t even know that a judgment existed. That’s something that we get a lot of phone calls regarding. Armed with the information that I will be providing shortly, hopefully you’ll be able to attack the situation in such a way that allows you to save as much money as possible and get your accounts released as quickly as possible.

First things first, a judgment leads to the frozen bank account. In order to get a judgment the creditor has to serve you the underlying lawsuit. Assuming that you didn’t respond, the creditor got a default judgment from the court. So, if you didn’t know that a lawsuit was filed against you, or that a judgment was entered, you’re going to want to get information from your bank and the courts about how the lawsuit was initiated, when it was filed, and how they allegedly served you.

At that point, I recommend that you call our law firm right away. We can explain the entire process that’s involved with trying to get the judgment thrown out. If we get the judgment thrown out, that would mean that the bank restraint has to be lifted. If you don’t take action quickly enough, the money in the account might be seized, and then you have an uphill battle trying to get the money returned from the creditor. It’s a very serious matter and you want to make sure that you take action as quickly as possible to protect your hard-earned money.

Additionally, if you do receive notice from your bank that your bank accounts have been frozen, contact your bank and find out from them when they intend to turn the money over to the creditor. Some banks have different procedures than others. You may not even discover that your accounts have been restrained for a few days after it’s actually been frozen. You want to make sure that if there’s a deadline looming, that you take action right away, because once that money is gone, if you didn’t challenge the judgment, and you didn’t take any other action, you may be out of luck. Hopefully this information has helped you a little bit. If you have any questions or concerns, or if you discovered that your bank account has been frozen, I urge you to give us a call at (888) 801-7765. We are confident that we will be able to help you like we’ve helped thousands of other people across New York State.