Legal Question in Credit and Debt Law in New Jersey

I have a bank account with child support payments and unemployment benefits deposited. I had a credit card bill apparantly from 1999 and a judgment entered in 2006. I will admit to owing a bill but am not sure who it was for. I believe the account had been sold. Being a single parent, was overwhelmed at the time with two minor children and trying to keep my head above water, did not go to the hearing. That said, This past Friday,I had $958,00 in my bank account and it was levied for $950.00 leaving me $8.00. I contacted the bank and they said that their hands were tied and could not do anything. I informed them that it is illegal to take exempt funds. They said they had to honor the Levy. The Creditor which is Pressler & Pressler asked for bank statements. I gave them 3 months with only deposits of Child Support and Unemployment. I explained to them that the funds were to be used for rent and food, which they have froen. They told me to borrow the money or charge it on a credit card. What should I do about the bank's refusal and the attorney?


Asked on 8/02/10, 6:06 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

The funds will not actually go to the creditor until the court issues a turn-over order. You can oppose that order if you can prove the source of the funds in the account and if substantially all of those funds are not subject to levy. Contact the court and tell the clerk that you want to oppose the motion for turnover. You must file a written opposition to do this and you will probably have to go to court for a hearing. Do this quickly because if you do not, the funds will be released and there will be no way to get them back. /p/ See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 8/07/10, 6:30 pm


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