Legal Question in Credit and Debt Law in New Jersey

Re: Levy on bank account

If there is a judgment against you, the creditor can levy against a bank account in your name as well as collect in other ways. Getting the money back once it has been taken is very difficult. However, a levy does not mean that the money has been taken yet, only that the bank has sequestered it so that it is not available for you to draw. Along with the notice of the levy, you should have received a notice of your right to oppose the turnover of funds. That is the appropriate means for you or your wife to raise any objections to the turnover. You must act within the time limit on your notice otherwise the opportunity will be lost.

See also: http://info.corbettlaw.net/lawguru.net