briarpatch

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About briarpatch

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  1. I spoke with lawyer at the local Legal Aid Society. Life insurance proceeds are "protected" from taxation and from creditors, period. This remains true if I move the funds around. If a creditor goes after these funds, I will need to file a "claim of exemption," and present proof in court the funds are life insurance. A hassle, but I look at it as work that will pay well, so this info is a relief. The Nevada statute of limitations on credit card debt is four years. This leaves $30,000 that has not expired. https://www.lendingtree.com/debt-relief/nevada/#DebtinNevadaAtaglance I dr
  2. Thanks for the replies. As noted in my clarification above, I have more defaulted credit card debt than the life insurance payout, by far. I had said my debts totaled over $40,000, but with a defaulted dental loan, it is actually over $50,000 10,000 US Bank 20,000 US Bank 10,000 Chase 12,000 Dental loan So settling the debts will wipe out most or all of the payout, as all of them have been purchased by collection agencies.
  3. I signed up for the free 7-day trial at Rocket Lawyer. We'll see what they say. I'll report back ☺️
  4. Hi, the payout was $37,000. Over the last several years, I lived on, then defaulted on over $40,000 in credit card debt. My only income is $1005.00 per month in Social Security Disability. The only reason I am not homeless is I qualified for state subsidized housing.
  5. Hi, another question... My Metlife life insurance payout was automatically added to a Metlife "Total Access Account" with an interest rate of .9% and no FDIC insurance. I would like to move this to a higher rate account that is FDIC insured. I know that life insurance payouts are not taxable, and cannot be accessed by creditors (as we discussed partially here). NOTE: I live in the State of Nevada. Having received the life insurance payout, if I now move the funds to an FDIC insured savings or money market account, will this then expose the money to judgements by creditors?
  6. Hi, another question... My Metlife life insurance payout was automatically added to a Metlife "Total Access Account" with an interest rate of .9% and no FDIC insurance. I would like to move this to a higher rate account that is FDIC insured. I know that life insurance payouts are not taxable, and cannot be accessed by creditors (as we discussed partially above). Having received the life insurance payout once, if I now move the funds to an FDIC insured savings or money market account, will this then expose the money to judgements by creditors? I know that as long as I have m
  7. Thanks for the excellent reply. Will my life insurance payout also be a public record that might have an automatic notification?
  8. Hi I'm new. I have a credit card debt for $10,000 which has been purchased a few times, the latest by a lawyer's company. I haven't worried about it because I am on disability and judgement proof, and expected to stay that way. The lawyer is sending letters to myself and my ex-husband. I haven't worried about this, as I think(?) it is unlikely a judge would give a judgement against him when it was entirely my own debt, incurred after our divorce. We have been divorced for some time. The entire balance was charged to the card by me as one purchase: my own dental work, aft