New York  |  Credit and Debt Law

Legal Question

Asked on: 6/30/09, 4:37 pm

Bank Levy

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I received a notice from the Sheriffs Dept that my income is going to be garnished and my bank account levied. The language in the notice is as follows: ''Pursuant to CPLR 5205(1), two thousand five hundred dollars of an account containing direct deposit or electronic payments reasonably identifiable as statutorily exempt payments, as defined in CPLR 5205 (1)(2), is exempt from execution and the garnishee cannot levy upon or restrain two thousand five hundred dollars in such account.''

Does this mean they cannot levy an account to which my paycheck is directly deposited up to the amount of $2500.00? It would be catastrophic for me to have my paycheck deposited only to find I can't access the money. Should I discontinue my direct deposit? Help please!!

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