Legal Question in Credit and Debt Law in New York

freezing a bank account
I want to know if a collection agency can get a judgement to put a lean on my house as well as put a freeze on my bank account, or are they limited to only one of the options that i have listed here? My main concern is the freeze on my bank account. This is for a debt of Under $3,000 dollars. My wife is on SSI and I have been unemployed for 7 months after working the same job for 12 years, and prior to our misfortune we paid them faithfully, can we send them what we can afford, even if its less than what they want?

Asked on 2/02/05, 10:43 am

2 Answers from Attorneys

Andrew Nitzberg Andrew Nitzberg & Associates

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Re: freezing a bank account

I am sorry that you have been put in this situation. It is very hard, especially because of involuntary unemployment and disability.

Unfortunately, they can grab anything even if it is nailed down!

What you can do is talk to them to set up a payment plan. Ask for a partial forgiveness of debt (because you have no money for them to seize in the 1st place). 20% under these circumstances is likely.

And make sure you stop the interest on the principle. That is important. If you can pay 150 a month, that may be enough. But that is very optimistic. They will want you to pay it off in 1 year, so you must negotiate very well.

Good luck.

Answered on 2/02/05, 1:51 pm

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