Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Sep 2016
    Posts
    13,916

    Default Bankruptcy and Frozen Bank Accounts

    A debtor defaulted on some loans, and the bank has now frozen his accounts. If he files for Chapter 7 bankruptcy, will the bank have to release the freeze on his accounts and allow him to access his money?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Bankruptcy and Frozen Bank Accounts

    The debtor should consult a bankruptcy attorney to determine if Chapter 7 bankruptcy is the best option. Although the automatic stay that results from a bankruptcy filing will stop further collection activity by the bank, the money in the bank account may end up going to other creditors. Depending upon the debtor's income, assets, and available exemptions, the debtor may benefit from Chapter 13 bankruptcy.

    Read this.

    1. Sponsored Links
       

Similar Threads

  1. Compensation and Overtime: Company Has Frozen Bank Accounts
    By mashi3902 in forum Employment and Labor
    Replies: 1
    Last Post: 04-06-2011, 05:28 PM
  2. Debt Collectors: Business & Personal Bank Accounts Frozen
    By NGSP in forum Debts and Collections
    Replies: 1
    Last Post: 06-02-2008, 09:38 PM
  3. Garnishment and Execution: Bank Accounts Frozen
    By Worried and Scared in forum Civil Procedure
    Replies: 9
    Last Post: 09-15-2007, 11:04 PM
  4. Collection Lawsuits: Collection Lawsuit and Frozen Bank Accounts
    By mickenne in forum Debts and Collections
    Replies: 1
    Last Post: 02-22-2006, 03:38 PM
  5. Debt Collectors: Frozen bank accounts
    By hblair364 in forum Debts and Collections
    Replies: 2
    Last Post: 11-01-2005, 05:14 PM
 
 
Sponsored Links

Legal Help, Information and Resources