Legal Question in Banking Law in New York
Hold on accounts for judgements
I have a hold on my account for a
judgement. Can they take all my
money that is in there?
Asked on 2/28/09, 2:25 pm
1 Answer from Attorneys
Warren Markowitz
Warren R. Markowitz, Esq
Re: Hold on accounts for judgements
If the judgment hasn't been discharged the bank is required to freeze the account in accordance with a court or administrative order.
They can't take all the money, unless of course the account is insufficient to satisfy the debt, then they can take what ever is there.
You may want to talk with a lawyer in regards to the obligation that gave rise to the hold.
Answered on 3/01/09, 12:50 pm
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