My question involves collection proceedings in the State of: NY
I just received an information subpoena and restraining notice. At the beginning it states "pursuant to section 5222(b) of the Civil Practice Law and Rules, you are forbidden to sell, reassign...property...to any person other than the sheriff...ect." (all that other legal nonsense).What do I do?
then, At the bottom it says "if the bank is not in possession of any assets of this debtor, it will not be necessary to respond to this information subpoena."
Then what am I supposed to do?? I assume this Information subpoena was sent to my bank to get information...but does that mean the sheriff is going to come and seize my assets too?
I would rather them garnish my wages than attach my assets, which have lost resale value over time. For them to come into my home, take my stuff and then garnish my wages AND levy my bank account. Why not just sell my kidney while they're at it?
Should I immediately consult a bankruptcy attorney?
By the way the default judgment for my CC debt is almost 13,000 and I have about $30,000 in student loans.