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Will Filing for Bankruptcy Stop Bank Levies?

Creditors place levies on your bank account to take the money that you owe them.  So, what can you do to stop your creditors and save your money?  Filing for bankruptcy will stop creditors from taking money from your bank account.

When you file for bankruptcy, the court issues an "automatic stay" order.  The "automatic stay" prevents all of your creditors' collection efforts, including bank levies, and it usually lasts until your bankruptcy case ends.  So, during your case, the "automatic stay" will stop the bank levy, and bankruptcy will also end the levy after your case is closed.  Generally when your case ends, you will have your debts discharged and a court order permanently stopping your creditors from collecting against you.

If you have any questions about bankruptcy, call 1st California Law at (949) 735-8499 for a free attorney consultation.