Re: judgement proof
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Posted by observer
(22.214.171.124) on September 17, 2002 at 09:12:23:
In Reply to: judgement proof posted by jen on September 17, 2002 at 01:33:11:
The court here won't get involved with another country's legal system unless the amount is huge and fraud or drugs, etc. is involved. What a creditor can do is subponea you for what is known as a debtors exam and question you under oath about all of your assets. If they find assets off shore they can ask the judge to order you to return them to the U.S. to pay any judgment. If you refuse, you can be found in contempt of court and be jailed.
One tip. Avoid Mexico. I knew an S&L executive who did just that as his bank was failing in the 1980's. He stayed out of jail but, 2 currency devaluations in Mexico wiped him out.
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