Being judgment proof
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- Опубликовано: 27 июл 2017
- Before a lawsuit for money is filed it is prudent for the party who wants to bring the action to evaluate the likelihood of recovery. That is - if you win will you be paid? Likewise if you are being sued- even if you have defenses the matter will take time to resolve. In this video Michelle explains what it means to be judgment proof and how that is an issue that should be reviewed before a suit is filed and before a suit is defended.
Being judgment proof is but one consideration when you have been threatened with or actually sued. For info on the others watch this • Options for dealing wi...
You killed this video! Very informational and direct to the point. Thanks!
Thanks @Crypto !
Hi! The only thing I have is cheap land real estate 😬- (otherwise judgement proof). No mortgage either though. Can i use a “promissory note” to put lien attachment? If a credit card company sues and is allowed a lien for full amount to attach to land, why do bankruptcy? Would do the same thing?
Also- because i own two, the “lien” is just filed w county, attaches to me, not to one specific parcel? Both are under my name😬- one i may have homestead exemption - California. Thx for your work👏❤️
Thank you so much for making these videos very helpful
You're very welcome @Rach
Your vedios very very helpful 👍👍👍👍
How do I get my mortgage judgement propf
🎯🎯
What if you're judgment proof in all aspects except, a lot of equity in a jointly held home with their spouse. Will a judgment holder bear the costs and attempt to force foreclosure. Can a creditor even do it?
Hi @Bank it- quick answer is depends on where you live and what type of ownership.
@@FinelyRevealed Oregon. I don't know how the title is held.
What kind of evidence can i send my creditors so they will know I’m really judgment proof?
Hi @Jesse Each one has a different requirement. There are a few factors- too many to write. Watch for a new video this weekend.
@@FinelyRevealed I’ll be waiting.
hello, i understand what it means to be judgement proof, what i dont understand is how the creditor knows that im judgement proof .im in Pennsylvania being sued by capital for $3400, if i ignore & they get a defuat judgement, when they try to go after my assets how will they know my assets are protected? do i have to proof im judgement proof before the hearing... at the hearing or do i ignore the hearing? thank you for ur time, greatly appreciate ur help.
Hi Rosie. Watch for another video on this and meanwhile please go consult with an attorney in your state.
rub one out rosie Same question !! Even if they can not keep my exempt income they can still freeze it and cause huge issues
FinelyRevealed Nice
@@shelleygold4923 The Bank will not freeze any Social Security or Pension direct deposits smaller than 2x the monthly deposit.
Deposits are Coded today and the Banks know immediately which are exempt aka Social Security has its own banking code.
What about pooled trust?
Oh nevermind you mentioned it, thank you😊
great video, what if the bank account is the business llc. could they take money from there? also how common is it that the person is a scammer? i'm pretty sure i don't owe anyone, but they claim they are going to sue. but seems scammy to me, arent old debts off the books after 7 years? i can't think of anything in the last 7 years for sure
This was a great Video. My daughter has only Social Security Income for her children. She has sent letters to each of her creditors informing them of this and that she is judgement proof. What process is next? She hasn't heard a word from them since sending these letters.
Please share any ideas you may have on her next steps to take.
Thanks
HI James and thanks for watching. Sounds like your daughter has done the right things- too much to write so look for a video on this later this week.
Thanks, I am looking forward to this video.
The video is cued to publish tomorrow- hope it helps
Looking forward to watching the video. She's stuck and doesn't know what to do.
ruclips.net/video/rjRxEymfsz4/видео.html Hope this helps @james!
Can they take your tv computer and 🛋️? I am on ss disability?
Household things are usually exempt unless the bill to buy them was not paid. Will do some more videos on this.
I have a judgment against me from AMEX, for 16k. I canceled the card about 4 yrs ago, and have to go to court Jan 25th
I am 63 and just received disability to go along with my SSA. Problem is my income from SSA and Disability is 2600, my mortgage is 2000, and I am storing what is left from a failed business that I am trying to sell piecemeal is $500. My wife pays all the other expenses, heat, electric phone etc. I also own rental properties. What is the best course of action?
Hi No Reply- watch for a video in the next 7 days on this!
check the statute of limitations, in Texas it's 4 years from the date of your last payment, after 4 years they aren't allowed to sue you, but if they do sue you after the 4 years, your defense is the statute of limitations, as far as your assets it sounds like they could go after the rental properties if they win a judgement against you, unless you put those in somebody else's name
#Finally revealed my only income is SSI $500 a month discover got a 3,000 judgement I have no home live with parents no car no savings nothing do I have to worry they are threatening to garnish my bank account thanks
HI James - if your SSI goes direct deposit into the account then that's the easiest answer - yes it is exempt. If you receive a check or get direct deposit and then move it to another account it is still exempt but you have to show the path it took and trace it. This doesn't mean that the creditor won't send out a garnishment- but should only happen once and then they'll know that the funds are only your ssi which are exempt.
FinelyRevealed Thanks for ur kind assistance I recently subscribed to ur channel and love the videos I have watched so far! Currently dealing with an ID Theft issue I wish you could do a video on ID Theft how u can prevent and recover especially getting it removed from ur credit report I’d love to see that video just a suggestion Thanks for responding so quickly