Re: "Protect Your Assets" - How?
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Posted by Why Chat (209.240.205.61) on February 25, 2004 at 17:41:29:
In Reply to: "Protect Your Assets" - How? posted by DrlAudio on February 25, 2004 at 16:56:25:
No, the "protect your assets" suggestion is in case you are sued. In any case, your household possessions are safe. Depending on your State, you may have your car seized( if you have it free and clear or with substantial equity), your pay garnished and your home liened. But the typical thing to attack is your bank account.If you have paid the original creditor by check, then the CA could have knowledge of your bank account. You can close it, and re-open one jointly with your fiancee (unless SHE has credit problems also) make sure she is on as primary (her name and ss# 1st)
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