Hi, I have had health problems and got behind on a CC from Bank of America, I could not afford to pay it and my rent too. I have no family help and I live alone, I work full time however I cannot keep up with my bills. I am afraid that BoA will put a levy on my bank account and possessions soon, although I do not have much in assets, this will cripple me! I have told BoA that I regret not being able to pay them as I know it is my responsibility, of course they want the $ and I do not blame them. However crippling me will not help them recover $ as I have next to none, I exist day to day! Can you offer and suggestions? Thanks, Tom E.:(

Call them and arrange to pay them something, even if it is just 5.00 at a time, they won't be able to do anything if they are receiving some sort of payment.

Do you have anything of worth? I would cut out any unessesary bills, ie: cable, cell, internet, etc... if you have a high car payment, I would also sell that car and by a cheaper one in cash and then pay off the credit card with the $ towards the car payment... I got out of debt doing this same thing. It is Dave Ramseys plan. You should read up on him... it sounds extreme at first, but it will quickly get you out of the creditors grip... good luck.

Before they can put a levy on an account they need to win a judgement.

I am sure that you will be notified when they take legal action.

Of course you don't want it to get that far but at least you will be aware of when the actions will be taken

Also if you have a bank levy in NJ I believe they only can bring your balance to $0 then have to re apply a levy to get anything else after that, unless it is a continuous levy. I know in New York they can make the balance negative (which happened to me)

Quote:

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Originally Posted by mmartin1924

before they can put a levy on an account they need to win a judgement.

I am sure that you will be notified when they take legal action.

of course you dont want it to get that far but at least you will be aware of when the actions will be taken

Also if you have a bank levy in NJ i believe they only can bring your balance to $0 then have to re apply a levy to get anything else after that, unless it is a continuous levy. I know in new york they can make the balance negative (which happened to me)

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Original post was over a year ago - should be closed (?)