Resolving Freezes on Accounts
Gain Control of Your Finances
It is possible for collection agencies to request a seizure of a bank account to collect an unpaid debt. This results in your bank account being “frozen”, usually for an amount twice that of what is owed. While the bank does not need to inform you that your account has been frozen the collection agency is required to do so. The IRS can also seize one or more accounts of an individual who has delinquent taxes. If you have been informed that your accounts are about to or have been frozen you should immediately speak to a lawyer fromCain & Associates, PLLC.
It may be possible to get your accounts unfrozen (called “vacating” the account) by filing forbankruptcy. If you qualify, under bankruptcy laws certain personal assets are exempt from discharging your debts and it may be possible to unfreeze the account a creditor has seized and then the court will determine if the debt is to be repaid over time or be discharged altogether. If you have received threatening calls or letters saying that a judgment against you could result in your accounts being seized you should consult with a lawyer to help protect your assets.
Helping You Hold Onto Your Hard-Earned Money
If you are one of the many who have become overwhelmed by debts and have fallen behind on paying your monthly bills you should call our offices and let us explain the different methods available to help you get back in control of your finances. There are several types of bankruptcy that can either eliminate all your unsecured debts (chapter 7) or give you up to 60 months to repay your debts with no additional interest (chapter 13). Both of these will also unfreeze your accounts and keep your creditors from ever contacting or threatening you again. There are also several other methods of discharging your debt without declaring bankruptcy that we can explain to you. We have helped thousands of people in the Nashville area get free from debt and regain control of their finances and future. Call us to schedule a free consultation.