Jump to content

How to protect assets after entry of summary judgment


Recommended Posts

An entry of summary judgement has been entered.

How can I protect my checking/savings accounts from freeze?

My hubby and I both have joint checking with direct deposits?

How does one work out a payment plan on the amount, I am low income.

Does Capital One automatically clean up my checking account then wages, what about cars?:roll:

Link to comment
Share on other sites

An entry of summary judgement has been entered.

How can I protect my checking/savings accounts from freeze?

My hubby and I both have joint checking with direct deposits?

How does one work out a payment plan on the amount, I am low income.

Does Capital One automatically clean up my checking account then wages, what about cars?:roll:

is the judgement on BOTH of you? if it's just one i THINK you can just take that persons name off the bank account.

Link to comment
Share on other sites

Doesnt there still have to be a court order allowing garnishment, freezing of assets, etc?

The judgement allows them to seek such relief, but I was under the impression (perhaps wrong) that there is still work to be done to actually 'collect' on the judgement.

Link to comment
Share on other sites

I assumed that with the judgment they don't need anything further to collect. I didn't get a chance to appear in court to show my income.

I wished I would have filed for asset protection.

Doesnt there still have to be a court order allowing garnishment, freezing of assets, etc?

The judgement allows them to seek such relief, but I was under the impression (perhaps wrong) that there is still work to be done to actually 'collect' on the judgement.

Link to comment
Share on other sites

Go online to NRA online banking. Yes that is the National Rifle Association.

They have a online Banking system that is located in Indiana.

When bank acct's become frozen, from what I understand creditors look at your local banks. I don't think that they can touch an out of the state in which you live in bank acct. So go ahead do your due diligence, and NRA can accept your direct deposit paychecks. Worth a look.

Link to comment
Share on other sites

In order for them to collect the judgement, they do have to go through more hoops. They must submit a writ of garnishment if they wish to garnish your wages or levy your bank account. And one of the posters is right; if they are aggressive, they will do a trace on local banks in your area and ask each of them if you have an account there.

See this link on garnishment and legal protections you might be afforded, since you are low income:

http://www.bcsalliance.com/debt1_indiana.html

BUT you can still protect yourself if you file the right paperwork and submit it to the courts. Ask if there is a waiver or exemption from garnishment form to fill out. You have to be able to eat and have a roof over your head so tally up all your monthly expenses, even incidentals and attach them to your request so you can justify your exemptions to the court. Either call an attorney or look at the Indiana rules of civil procedure for further details.

Best wishes.

Link to comment
Share on other sites

What state are you in?

In Flordia, for example we have TENANTS BY ENTIRETIES protection. If the judgment is against only one party and your bank account is titled as Tenants by Entireties it cannot be garnished. Also, the first $500 of income for head of households is exempt from garnishment.

You might also want to talk to a competent Bankruptcy attorney. If you file for BK an Automatic Stay is entered by the court that PREVENTS all collection action against you. Most BK attorneys will give a free 1/2 hour consultation -- take advantage of this. Even if you don't file you may get some good advice on how to proceed.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.