Re: Assest Acceptance Corp Woes

Posted by J Kelly (151.197.46.2) on April 29, 2004 at 14:58:00:

In Reply to: Re: Assest Acceptance Corp Woes posted by Suge on April 29, 2004 at 13:25:29:

No problem. Judgement proof means that you have nothing that they can take. I will give you a link to bk exemptions (what you keep if you file bk) and these exemptions also apply to judgements. If you are sued, and they do get a judgement, you must file your exemptions. When executing on a judgement (and you have not been sued yet, so this is only if you are sued and they do get a judgement) they look for property, bank accounts, vehicles, (you have the 1988? - no problem-not worth enough) and wage garnishment. The only advice I would give you would be to close your bank account and go to a different bank, get an account with somebody you trust as primary (if possible) Anyway, protect your banking info. If they get a judgement, they can freeze your bank account. So, I would be very careful about keeping money in a bank account. If they sue you and get a judgement against you, they can require you to disclose assets, including bank accounts. YOU CAN NOT LIE AT THAT POINT IN TIME. PROTECT YOUR MONEY NOW. Do whatever you need to do to protect it and not lie underoath. So, if they ask you to disclose all of your bank accounts, you must do it, but if your money is not in a bank, you are not lying. Again, they will DEFININITELY THREATEN YOU. They will try to scare you. If you know your rights, and you don't have assets, there really isn't much they can do to you. If push came to shove, and they did sue you, you could file bk. Not really sure that I would advise that for a 4500.00 debt, but that is completely up to you. If they get a judgement, they can choose not to execute until you obtain assets.
http://www.bankruptcyaction.com/mdexemptions.htm

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