While you may be shocked to find out that a Debt Collector has levied your bank account, during the current pandemic, it’s unfortunately not surprising to me. The CARES Act did not contain any legislation to protect these funds from your creditors. Until further guidance is issued, you should treat your stimulus check as fair game to creditors. However, you can take certain actions to protect yourself. The following are a few things to know and do to protect yourself if you are a New Jersey resident.
- In order to Levy a bank account in New Jersey, a judgment must be entered against you or domesticated into New Jersey if it was issued outside of the State.
- Sometimes people don’t know if there’s a judgment against them. You can check by CLICKING HERE and following the links on left side of the page under the heading FIND A CASE. More information can be found on the courts SELF-HELP CENTER.
- New Jersey Law allows you to Exempt $1,000.00 of Personal Property of ANY Kind. See J.S.A. 2A:17-19 (Your state may have similar laws)
- Monitor your bank account. If you fear that the money will be seized, immediately withdraw the funds from the bank.
- If you’re not required to file a tax return, consider registering with the IRS for a paper check.
If all else fails, contact a qualified attorney to discuss your options. We’re here to help.
Contact Our Offices
At the Law Office of Andrew B. Finberg, LLC, we offer experienced bankruptcy counsel to individuals in Burlington, Camden, Gloucester, Ocean, and Atlantic counties in New Jersey. To schedule an appointment, call our office at 856-988-9055 or contact us online.