Can a creditor put a freeze on my bank account if it is based in another state?

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Can a creditor put a freeze on my bank account if it is based in another state?

Also, I was given a new car – paid off and all – can they steal it from me? This creditor is coming after me for $1700 and my car is worth $18,000 – everything else I have was a gift or hand me downs, as I do not have any money. I always thought that credit card debt is unsecured, so I do not understand how they could go after anything but my money?

Asked on December 24, 2011 under Bankruptcy Law, New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you owe the credit card company $1,700.00, I suggest that you try and reach a written agreement where you pay so much per month in order to resolve the debt so that you are not worrying about the creditor filing suit against you, getting a judgment and trying to collect upon it by leving upon your bank accounts and garnishing your wages.

In most states a judgment creditor cannot levy successfully upon one's personal car if the value is less than $10,000 or so. The creditor that you are writing about could get a judgment against you in one state and then obtain a sister state judgment in the state you reside upon and try and levy upon your assets to get the judgment satisfied.

 


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