The system of sending people to jail for not being able to pay their debt is a thing of the past in the United States, but that does not mean that creditors cannot find ways to make it hard on debt holders. One of the most powerful tools creditors have in their possession is the ability to use a bank levy when you are behind on payments.
At the Hayes Law Firm, APC, we know that dealing with finances and debt alone can be incredibly difficult. That is why our qualified and experienced team wants to help. We will work to reduce or eliminate your debt when you need a Montebello stop bank levies attorney. Call us today so we can begin the process.
A bank levy is a legal process that creditors can go through in order to seize funds directly from your bank account. Your bank will freeze the funds in your account and then send the money to creditors in order to satisfy the debt.
Creditors must actually go through the courts in order to start this process. While they or your bank have to let you know what is happening, this is typically a last ditch effort to settle a debt and you likely already know what is happening.
Your first step upon learning that you have a levy on your bank account needs to be to call an attorney familiar with state laws. First, it needs to be determined whether the debt collection is legitimate. If there was an error, identity theft, or if the debt is past the statute of limitations, an attorney can help you remove the levy.
Other options include filing for Chapter 7 or Chapter 13 bankruptcy, both of which can potentially stop the levy process while debts are being negotiated. If you do not qualify for bankruptcy, or if you want to avoid bankruptcy from hitting your credit report, you could use an attorney to negotiate with creditors to stop the levy.
If your account is sourced with federal funds (Social Security, federal pension payments, disability payments, etc.) then these may be protected. Also, if your money is from child support payments received, it could also be exempt from a levy.
You do not have to waste another minute worrying about what to do if the bank has placed a levy on you. At the Hayes Law Firm, APC, we understand that creditors and banks can be intimidating and you may not know how to handle the situation. That is why our Montebello stop bank levies attorney will step in as your advocate. We will work to unfreeze your funds and figure out how to negotiate a debt settlement that is favorable and fair to everyone. You can reach out for a free consultation by clicking here or calling us at 323-477-1415.
At The Hayes Law Firm, APC, we serve all of Los Angeles and the Inland Empire, so whether you need a personal injury attorney in Montebello or a premises liability attorney in San Bernardino, we are here to serve you. Unlike other attorneys who view clients as cases, we understand that your experience has a human story behind it, and when you are in our offices, you are like a member of the family. We are ethical and compassionate, and we will take the time to find the best solution for your unique case and will work together with you every step along the way. Contact us today for a free consultation.