I live in New York. I had a law firm that sued me for legal fees and then got a judgment against me. They then froze my father's bank account. My name is also on the account, but it is not my money. My name is on the account because my father is old and wanted me to be able to pay his bills if he got sick or passed away. Now he is very upset that his account is frozen. My question is is that legal for the law firm to freeze his account? Are they entitled to take money out to satisfy the judgment? If so, how much can they take? Is there anything I can do to stop this?
Your father may have to interpose a third party claim if you were placed on the account as a convenience signer.
One way to determine the proper response to this garnishment is to look at the papers that were signed permitting you access to the account. If you were merely added on as a convenience signer, then its probably defensible.
If you were added on a joint owner of the account, say adios to the money.
Click on "Find a Lawyer" above and locate an attorney in your area who handles debt collection defense work to assist you in this matter.
If you hold the count jointly, then it is legal for the judgment creditor to have served a restraint on the bank. You and/or your father may be entitled to claim that some or all of the funds are exempt from levy by creditors. For instance, if the source of the funds are from social security, social disability, worker's compensation. Also, 90 percent of wages earned within 60 days are exempt if needed for your living expenses, you or your dad may be able to claim an exemption for those funds. You and your father should have received an exemption claim form from the bank which you can complete. I would also recommend that you speak to an experienced and responsive debt/bankruptcy attorney who can review the options, such as settling with the judgment creditor or filing for bankruptcy. Best of luck, Barbie D. Lieber
THe bank will send you an exemption form, but it will really be up to you and your dad to prove it is his money and not yours. Do not wait to do this. God help you if BoA or one of the big banks holds the money. Don't wait for the internet to give you the answer, you need real help now. Go see a consumer lawyer in your area.
