Frozen bank accounts can cause you a big headache if you weren’t prepared, and lifting the freeze can take several weeks, assuming the bank doesn’t fight it.
If you lack adequate cash reserves, you may be at the mercy of friends and family for essentials like gas and food in the interim.
The good news is that the judge will eventually lift the freeze, but if you have a mortgage, credit cards, or other debts through the bank where you make deposits, there’s a chance the bank will freeze the account in order to protect the funds – and collect on their debt.
Sensible planning before filing can mitigate or even eliminate the risk of account freeze, but bankruptcy is full of uncomfortable scenarios like this for filers who try to go it alone.
Protect yourself and your assets in bankruptcy. The attorneys at Zelenitz, Shapiro & D’Agostino can help.
Call us today at 718-599-1111 for a free consultation.