Legal Question in Bankruptcy in New Jersey

Hi, I was wondering how filing for bankruptcy could adversely affect my bank account. I've been reading and came across some postings saying that on the day you file for bankruptcy your bank account is frozen.. I have a bank account with absolutely no savings, the only thing that comes in is my paycheck every 2 weeks that I need for rent and food, I was wondering if there's any truth in that the bank account might be frozen for the simple fact that I filed a bankruptcy petition?


Asked on 11/27/11, 2:20 pm

1 Answer from Attorneys
Jeffrey Walters Law Offices of Jeffrey S. Walters, LLC

This is incorrect. Your bank account is not "frozen" by the act of filing a bankruptcy petition. So long as the combined balance in all of your accounts is within your entitled exemptions, your bank account(s) will continue normally. I suggest that you obtain the advice and assistance of an attorney if you are considering a bankruptcy filing.

Note: Due to the limitations of the LawGuru Forums, the response to questions posted does not constitute legal advice or legal representation of the person posting a question. The information provided is general. The poster should obtain specific legal advice from an attorney, and should not rely upon the response as the basis for making any decisions of legal consequence.

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Answered on 11/27/11, 5:08 pm


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