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    haroldg's Avatar
    haroldg Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 19, 2007, 12:07 PM
    Judgment proof letters
    How can I tell if I'm judgment proof?
    DrJ's Avatar
    DrJ Posts: 1,328, Reputation: 339
    Ultra Member
    		  
    #2

    Jun 19, 2007, 12:09 PM
    It's a rather loose term but it is for people that are on a fixed income and don't own a home.

    It doesn't mean that you are ACTUALLY judgment proof but if that is the case, odds are no one is going to want to pay $$ to come after you because most likely there is nothing to come after.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jun 19, 2007, 12:10 PM
    To be judgement proof simply means you have no assets for a creditor to attach. This means no job where they can garnish your salary, no savings or investments, no property, nada.
    DrJ's Avatar
    DrJ Posts: 1,328, Reputation: 339
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    #4

    Jun 19, 2007, 12:13 PM
    Keep in mind that a judgment can still be filed on someone that is judgment proof if they suspect the situation to change in the future. Judgments will usually last about 10 years and can be renewed after that.
    mr.yet's Avatar
    mr.yet Posts: 1,725, Reputation: 176
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    #5

    Jun 19, 2007, 12:15 PM
    Put everything in a trust.
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