Below is a link to my blog on all options, if you are sued and a default judgment is obtained. When the bank levy is delivered by the sheriff, whatever is in the account at that moment is turned over by the bank, unless the bank knows that the funds are exempt, such as the funds are entirely from Social Security benefits. In four months, a new levy can be obtained and delivered to the bank.
Given your financial situation, you should immediately file a claim of exemption. Why wait 10 days or 15 days? Do it NOW. The forms by the Judicial Council are linked below, see Form EJ-155, EJ-160, and EJ-165. The answer is that you should immediately prepare and file the forms in quadruplicate to the levying officer handling this levy. This form is typically prepared by the defendant, not an attorney, but my concern for you is how much is being levied and will filing these forms make it more difficult later to settle this debt, if they have all your financial info?
If your claim of exemption is not opposed, the funds will be returned to you soon. If your claim is opposed, you will receive notice of a hearing in court with a judge to determine if your claim should be granted and how much you should be permitted to keep and how much should be sent to the creditor on the judgment.
How was this judgment obtained against you? Were you properly served with the summons and complaint? If service is not valid, then the defendant has the right to set aside a default judgment. I have linked below my blog on all options to deal with this judgment. I'd also recommend getting a consultation with my office or one of the other lawyers on Avvo who represent consumers sued in a debt collection lawsuit. If none of the things in my blog are done, this can happen again and again for many years to come, until the judgment has been satisfied in full. As with many attorneys who represent consumers, I do not charge an initial consultation fee and the consultation is confidential.
Robert Stempler (please see DISCLAIMER below)
NOTICE: The above statements are provided for general information purposes only and are not intended as legal advice or advice of any sort for a specific case or legal matter. If you do not have a signed attorney-client fee agreement with the Consumer Law Office of Robert Stempler, APC ("the Firm"), then until such written fee agreement is provided and signed by both a prospective client and attorney for a particular case, neither Mr. Stempler nor the Firm will represent you nor will they be your attorney in any matter and you remain responsible for retaining your own attorney and for compliance with any and all deadlines and for any statutes of limitations that may pertain to potential claims. Comments made on a public forum, such as Avvo.com, to not have any confidentiality because others may read them. If you desire a private consultation with Mr. Stempler that is confidential, please go to www.StopCollectionLawsuits.com and submit a free eCase Review. The result portrayed for a client was dependent on the facts of that case. Results will differ if based on different facts. The Firm and Mr. Stempler are a debt relief agency. The Firm and Mr. Stempler help people file for bankruptcy relief under the Bankruptcy Code.