Re: Once they get a judgment, what CAN they do?

Posted by J Kelly (151.197.46.2) on May 10, 2004 at 10:36:19:

In Reply to: Once they get a judgment, what CAN they do? posted by Steve on May 09, 2004 at 23:33:14:

Depends on what state you are in and if you have anything they can seize. They can seize your bank accounts, so as CAT suggests, you don't want to have a lot of money in a bank account. You protect your assets by putting your money into things that are exempt from judgement. Depending on the state, pension monies, sometimes insurance. There are safe places for your money. And there is always "under the mattress". If this happens to be individual debt (not joint with a spouse) and you happen to live in a tenants by the entirety state, then your home is exempt from seizure. Lots of variables. If you give us your state, we will give you a link to your exemptions and you can see where you stand. A judgement can sit for a long time before they decide to collect on it. Sometimes they will let it sit for awhile, and then try to collect when you have more assets. For most of us, circumstances do change over the years.

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