Jersey City, NJ Frozen Bank Account Lawyers

Is Your Bank Account Locked? Get Expert Help Today!

Finding out that your bank account has been frozen can be a distressing experience, especially if you rely on those funds to pay bills, rent, or even buy groceries. If you’re in Jersey City, NJ, and have discovered that your bank account is frozen, don’t hesitate to reach out to Graham & Borgese at (888) 801-7765 for a free consultation. Often, banks may not fully understand the laws designed to protect consumers from account freezes.

Our dedicated team of frozen bank account lawyers in New Jersey is here to assist you. Contact us online or call (888) 801-7765.

What Does It Mean to Have a Frozen Bank Account or Levy?

A frozen bank account, also known as a bank levy, occurs when a creditor instructs your bank to hold your funds for collection purposes. While you can still deposit money into the account, withdrawing funds becomes impossible until the freeze is lifted.

Why Did My Bank Account Get Frozen?

If your bank account has been frozen, it usually indicates that a creditor has secured a judgment against you or a co-account holder. In New Jersey, including Webster, creditors have the legal right to freeze accounts to compel payment of debts. This can create significant pressure on individuals trying to manage their finances.

Why Is My Account Showing a Negative Balance?

You may be alarmed to see a negative balance on your statement or online account. This situation does not necessarily mean that a creditor has taken all your money. In New Jersey, creditors can freeze double the amount of the judgment, which can create the illusion of a negative balance. In most cases, your funds are still in your account but are temporarily inaccessible due to the freeze.

What Comes After This?

Typically, a creditor must file a lawsuit against you and obtain a court judgment before they can freeze your bank account. Once this occurs, they will notify your bank to restrain your account. After your account is frozen, your bank is required to send you a notification within two days, outlining your options, especially if you believe that your funds should not be subject to the freeze.

What Are Your Rights If Your Bank Account Is Frozen?

If your bank account is frozen, it's usually due to a court judgment, unpaid debts, or government action. However, you have rights and options to address this situation. First, your bank must notify you of the freeze and provide details on the creditor's claim. You have the right to dispute the freeze if you believe it was issued in error or if the funds in your account are protected. Certain types of funds, such as Social Security, disability benefits, and retirement income, are often exempt from garnishment and may be protected from a freeze.

You also have the right to file a motion in court to unfreeze your account. In some cases, negotiating directly with the creditor or arranging a payment plan could lead to the release of your funds. It’s essential to act quickly, as delays could result in the loss of access to your funds for an extended period. Consulting with an experienced frozen bank account attorney near you in Jersey City can help you navigate the process and protect your financial interests.

If you find yourself in this situation in Jersey City, NJ, don’t hesitate to call (888) 801-7765 or send us a message to discuss your case with our experienced team. We’re here to help you navigate this challenging situation and protect your financial well-being.

Speak with experienced Jersey City frozen bank account lawyers at Graham & Borgese. Contact us or call (888) 801-7765.