By: Robert J. Nahoum Has Your Bank Account Been Frozen by a Debt Collector? Learning that your bank account is frozen is one of the most stressful financial events a consumer can face. In New York, this is often the result of a Restraining Notice served by a judgment creditor or debt collector. If you are facing this situation, you need immediate, […]
Restraining Notices & Frozen Bank Accounts in New York: Your Essential FAQ Guide
Can a Debt Collector Freeze Your Bank Account If Your Income Is Protected? What New York Consumers Need to Know
By: Robert J. Nahoum Short answer: Yes, a debt collector can still freeze your bank account even if your income is legally protected, but you have powerful rights to get those funds released quickly if you act fast. If you live in New York and have been sued by a debt collector, understanding the difference between a freeze and an actual loss of funds is […]
Frozen Bank Accounts in New York: Why a Freeze Does Not Mean the Money Is Gone (Yet)
By: Robert J. Nahoum A Frozen Bank Account Is Not an Immediate Loss of Funds In New York, when your bank account is “frozen,” it means a restraining notice been served on your bank, but the money has not necessarily been removed yet. The restraint blocks you from accessing some or all of the funds while the judgment creditor goes through the […]
New York Judgment Exemptions FAQ – What Can Debt Collectors Take?
By: Robert J. Nahoum What are judgment exemptions in New York? Judgment exemptions are protections in New York and federal law that keep certain income and property safe from most judgment creditors’ reach. These rules limit what debt collectors can take through wage garnishments, bank restraints, and property levies, even after they win a judgment against you. If a debt […]
Who Are the New York City Marshals in Debt Collection (and What Can They Do to You)?
By: Robert J. Nahoum Who Are New York City Marshals? New York City Marshals are independent public officials appointed by the Mayor to enforce civil court judgments, including consumer debt collection judgments in the five boroughs. They are not salaried city employees; instead, they earn statutory fees and a percentage (often called “poundage,” up to 5%) of the money they […]
FAQ: How to Respond to a Frozen Bank Account or Wage Garnishment in New York
By: Robert J. Nahoum Finding out your bank account is “restrained” (frozen) or that your paycheck is being garnished can be a terrifying experience. In most cases, these aggressive collection tactics happen because a “default judgment” was entered against you—often without you even knowing you were being sued. At The Law Offices of Robert J. Nahoum, P.C., we help New […]
The Law Offices of Robert J. Nahoum Settles Ancient Medical Debt Judgment For less Than Principle
By: Robert J. Nahoum Our client was recently notified that her bank account had been frozen. She was stunned to learn that a debt she thought had disappeared had not. In fact, that debt had been converted years earlier to a default judgment, had been collecting interest for years and ballooned from $750 to nearly $3,000.00. The debt came from […]
Can a Debt Collector Freeze My Direct Deposit?
By: Robert J. Nahoum THE PROBLEM You just heard from your landlord and he tells you the rent check bounced; or maybe you swipe your debit card at the grocery store cash register and the cashier tells you your card has been rejected. Turns out, your bank account has been frozen due a debt collection judgment! In New York, the […]
Can a Debt Collector Restrain My Entire Bank Account?
By Robert J. Nahoum THE PROBLEM: You have just been notified by your bank that your account has been frozen by a debt collector who was awarded a judgment against you in a lawsuit on an old debt. You just got paid and you need that money to pay the rent, the utility, the groceries, your car payment, your […]
What To Do When a Debt Collector Freezes a Joint Bank Account
By: Robert J. Nahoum THE PROBLEM: In New York, the quickest way for a debt collector to collect on a judgment is with a frozen or “restrained†bank account. Often, a consumer doesn’t even know he or she has been sued in a debt collection lawsuit until a check bounces or the ATM doesn’t spit out any money. The problem […]