If you’re experiencing money troubles and your bank account is frozen. As a result, you may feel like you have no way out. The good news is that there are rights in place to protect you through the process of unfreezing your account. Our legal team at Jacovetti Law, P.C. understands what you’re going through, and we’re here to help. We’ll guide you through the process and ensure your rights are protected every step of the way.
Why Would a Creditor Freeze Your Bank Account?
There are a few reasons why a creditor might freeze your bank account. One reason is if you have unpaid debts. Your creditors may also freeze your bank account if they suspect that you’re about to withdraw money to avoid paying your debts.
Your Rights If Your Bank Account Frozen
The Exempt Income Protection Act (EIP) of 2008 ensures that some funds are held in bank accounts and is protected to ensure individuals have enough funds to pay for their basic needs, such as rent, food, and medicine.
In accordance with the Exempt Income Protection Act (“EIP Act” ):
- 2,500.00 in accounts with reasonably identifiable directly deposited exempt income must remain unrestricted.
- On all other accounts, $1,740.00 cannot be restrained after a private judgment creditor issues a restraining notice.
These guidelines can be frustrating and confusing for someone who has never gone through this process. That’s why it’s crucial to have an experienced legal team on your side. The lawyers at Jacovetti Law, P.C. can help you navigate the process and provide you with the best course of action.
How Can Jacovetti Law, P.C. Help Unfreeze My Bank Account?
At Jacovetti Law, P.C., we understand what you’re going through, and we’re here to help. We’ll guide you through the process and ensure your rights are protected every step of the way. We’ll review your case and help you take the best possible course of action.
If your business is dealing with a frozen bank account, we can help! Contact us today at (516) 217-4488 to schedule a consultation!