Have you been sued by a creditor who obtained a default judgment on the debt? Do you owe the IRS, the EDD, or the Board of Equalization?
Iíve recently seen a rush of levies on bank accounts for people with these types of debts out there. In case this happens to you, there are a couple of things you should know.
First, you can probably get that money back. Like with a wage garnishment, if you file a bankruptcy before money is released to the Sheriffís office or the creditor, you can get it released back to you.
Second, the practical problem of paying for an attorney to help you by filing your case rears its ugly head if all your bank account balances suddenly read zero. Yes, you can get the money back, but what money are you going to use to get the money back? Itís an unfortunate Catch-22.
So, please, if you have a judgment creditor out there, talk to an attorney. Find out what it will take to get a case filed. Donít wait. The head in the sand approach is what got you here. Donít let it get worse and definitely donít let it get so much worse you are rendered unable to do anything to dig yourself out of the situation.