About that savings account.
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Posted by Drew
(24.59.27.46) on January 22, 2004 at 13:06:15:
In Reply to: Freezing your Bank Account question posted by TXMomy on January 22, 2004 at 08:55:14:
It has been recommended that you withdraw all but $100 from your savings account unless they freeze it. You said that you were saving that for property taxes. Is there anyway you can partially pay for your property taxes early. I mean they usually can work with people on different payment schedules but if you tell them that you are going through financial difficulties and you want to pay what you can now, could they not work with you. This way you are using the money the way you intended to only earlier than you intended to and if you had a reciept showing why you withrew the money while a lawsuit was pending and that you had legitimate expense, it might diffuse any of the charges of fraud that they will make against you. If you have been served with a lawsuit and if you make drastic measures like closing down your bank account and opening another one, it looks suspicious like you are trying to defraud the system. Do not give the appearance of fraud. My opinion and not legal advice is to withdraw the money and pay in advances your tax bill and get a reciept for it. That way if you go to court and the plaintiff gets ugly, you will have a legitimate reason for pulling that money. You can tell the judge that you were fearful that the taxes would not get paid. Others who feel that this is a bad plan, feel free to disagree.
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