Legal Question in Credit and Debt Law in California

Bank Levy

A Credit Card Company recently levied my bank account, but they still want more. If I were to die before they receive the entire sum could they take it from my term life insurance policy? Thank you.


Asked on 4/07/09, 6:34 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Bank Levy

Please don't do anything rash! Theoretically, the proceeds from the life insurance policy would belong to the named beneficiary. If none is named, then the company, with some hurdles, could conceivably make a claim against the estate.

You might want to negotiate payment over a period of time to avoid such worry or, if need be, consider filing for bankruptcy protection if you qualify.

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Answered on 4/08/09, 12:09 am


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