Legal Question in Credit and Debt Law in New York

Re: Frozen Bank account

That is not true you CAN pay them...Most firms will demand either you turn the entire account over to them OR give them a down payment from the frozen funds...if both sides agree to this in writing, the bank will allow it. Its called a "conditional bank release"...you sign it authorizing the bank to release funds sufficient to pay the down payment and then the bank releases the remainder of the account back to you (so you can pay your bills and the settlement agreement that will usually accompany the conditional bank release). judgment is valid for 20 years...that is the statute of limitations on judgments (20 years) though it can be extended. Note that judgments accrue interest at 9% per annum which is a pretty high rate...It is too late to dispute the debt since a judgment was already entered. You can file a motion to have the judgment vacated...but you have to demonstrate an excusable default and a meritorious defense. Unless you claim you owe NOTHING, work out a settlement.