Legal Question in Bankruptcy in California

Bank account Levy

If you have filed a Chapter 7, and the Bank has hold/Levy on our Savings Account, (Which is only 7 days old)...and you filed & paid for a emegency Chapter 7, you have turned in your top copy to the Marshalls office to stop all proceedings, WHen does the Marshalls offise contact the Bank & How soon? The hold on the account, Is it stoped and you have acces to the monies once the bank is contacted via what ? A visit from the Marshalls office or what ? Is the bank mandated by federal law to release the funds ASAP or what ?


Asked on 12/04/01, 5:22 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Bank account Levy

Generally, the marshall's office requires an order from the bankruptcy court showing either that the lien was avoided, or for compelling turnover of the assets. The former is generally easier to accomplish, depending on what exemption scheme you used on the bank account asset.

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Answered on 12/04/01, 5:26 pm


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