Phoenix Bank Levy Lawyers
If you need help dealing with a bank levy, speak with a Phoenix bankruptcy attorney at Hilltop Law firm. Call today at (602) 466-9631.
Helping Arizona Debtors Deal With Creditor Bank Levies
When you default on payments, creditors may sue in civil court and obtain judgments that allow them to implement bank levies. In this way, they can legally take money from your bank accounts as payment for delinquent debts. When an account is levied by a creditor, the bank will freeze the funds and lock you out of the account. You will not be able to access any of your funds in that account during the legal process required for the creditor to receive payment. Creditors may continue to take funds from your accounts as many times as it takes to satisfy the debt.
If your bank account has been levied, you may find your balance has been suddenly reduced to $5,000, the amount creditors are required to leave as exempt funds. Contact our Arizona bank levy lawyer at (602) 466-9631 to find out how we can help.
How Can a Phoenix Attorney Help if You Are Facing Bank Levies?
As bank levies are typically a last resort for creditors, they can usually be prevented with the help of an experienced Arizona bankruptcy lawyer. If you legitimately owe a debt and receive notice that you are being sued for failure to pay, not only could your accounts be levied, but your wages could also be garnished. You can stop bank levies and wage garnishment from continuing or starting in the first place by filing for Chapter 7 or Chapter 13 bankruptcy.
Bankruptcy allows you to discharge unsecured debt, which includes credit card balances and medical bills. Once the underlying debt is discharged, a bank levy cannot occur. If you are unable to discharge the underlying debt, filing for bankruptcy can give you the time and means to reorganize your finances so you can ultimately pay the debt and avoid having your bank accounts levied. In addition to legal assistance in filing for bankruptcy, our experienced Phoenix attorneys can negotiate with creditors on your behalf and help protect your exempt funds from being levied.
What Funds Are Exempt from Bank Levies in Arizona?
Exempt funds cannot be seized from an account by creditors. We can help you determine and inform the court or the bank if your bank account contains funds that are exempt from levy, in addition to the $5,000 minimum creditors are required to leave in accounts in Arizona. Protected funds may include:
- Social Security benefits
- Supplemental Security Income (SSI) benefits
- Veterans benefits
- Federal employee pensions
- Child support payments received
- Unemployment compensation benefits
What Are the Bank Levy Defense Strategies?
The defense strategies we employ against bank levies will depend on the circumstances of your particular case. Common strategies include:
- Challenging the validity of the creditor’s claim
- Searching for errors in the judgment and levies on accounts not listed in the writ of execution
- Objecting for lack of notice (if you were not given the notice required by law)
- Negotiating a settlement with the creditor
- Filing for bankruptcy
What Are the Issues and Challenges With Arizona Bank Levies?
If creditors are levying your accounts, you may be dealing with the potential loss of funds you need to survive, as well as the stress of the situation. Our experienced Phoenix bank levy attorney can review your situation with you, advise you on the best way to proceed, and help you implement debt relief solutions. We can negotiate with creditors on your behalf, protect your best interests, and represent you in court.
Contact Hilltop Law Firm at (602) 466-9631 to schedule a free 30-minute consultation with no cost or obligation. We can help put your mind at ease during a stressful time.