i just received a form letter from Legal aid in California..showing how to advise your bank ..IF..the funds in the bank are truly exempt..it says....
use this letter if the only income directly deoposited into your account comes from the social security administration or from some other types of public benefits(in which case adjust the wording accordingly).if other funds go into the account, its balance is protected only up to $2,700(4050 if the account belongs to two beneficiaries).
your name
your addres
city,state,zip
date-----
xyz bank
adddress
re account no........
I we am/are the holders/s of a checking/savings account at your bank.All of the funds/Funds(__choose which is correct depending on whether there are other funds deposited into the account as well) in that account are deposited directly by the Social Security Administration.(or other exempt source)
This is to notify you that should you receive any form of legal process by a third party asking to levy on my/our account, I/we/am/are entitled to an exemption without making claim, under provisions of federal law and California Code of Civil Procedure, section 704.080, in the amount specified in the statute. Your attention is further directed to Murphy vs. Wells Fargo Bank, San Francisco Superior Court case NO 978007, final judment December 9,1997, and also Cooper vs. Bank of America Nt. & s.a. Los Angeles Superior court, no BC 129502, in which the defendant banks agreed not to place a freeze or hold of any kind on a Social Security direct deposit account or assess a fee when the bank is served any form of notice of levy.
This is to advise you further that I/we rely on the current availability of the funds deposited in the account to furnish me/us with basic necessaries. Failure on your part to honor the exemption in violation of the statute for any period of time could result in serious consequences to me/us.
Sincerely,
your name 2nd signature, if applicable
use this letter if the only income directly deoposited into your account comes from the social security administration or from some other types of public benefits(in which case adjust the wording accordingly).if other funds go into the account, its balance is protected only up to $2,700(4050 if the account belongs to two beneficiaries).
your name
your addres
city,state,zip
date-----
xyz bank
adddress
re account no........
I we am/are the holders/s of a checking/savings account at your bank.All of the funds/Funds(__choose which is correct depending on whether there are other funds deposited into the account as well) in that account are deposited directly by the Social Security Administration.(or other exempt source)
This is to notify you that should you receive any form of legal process by a third party asking to levy on my/our account, I/we/am/are entitled to an exemption without making claim, under provisions of federal law and California Code of Civil Procedure, section 704.080, in the amount specified in the statute. Your attention is further directed to Murphy vs. Wells Fargo Bank, San Francisco Superior Court case NO 978007, final judment December 9,1997, and also Cooper vs. Bank of America Nt. & s.a. Los Angeles Superior court, no BC 129502, in which the defendant banks agreed not to place a freeze or hold of any kind on a Social Security direct deposit account or assess a fee when the bank is served any form of notice of levy.
This is to advise you further that I/we rely on the current availability of the funds deposited in the account to furnish me/us with basic necessaries. Failure on your part to honor the exemption in violation of the statute for any period of time could result in serious consequences to me/us.
Sincerely,
your name 2nd signature, if applicable
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