When Debtor’s Money is no Longer Debtor’s Money: Sometimes not even Bankruptcy Helps
When does a New Jersey resident lose all right to funds in a bank account levied by a judicial officer on behalf of a judgment creditor? The answer: "When the Superior Court of New Jersey enters an order compelling the bank to turnover or surrender the funds." If a turnover order is entered before a bankruptcy petition is filed, the debtor ... Read More.