Excuse me if I'm doing this incorrectly I just signed up.

I have an extension to this question...

My bank accounts were recently restrained by a firm. I'd like to know how I can prevent this from happening in the future. (pay the bills I know) However, would they had been able to do this if I was simply on some one else's account? I thought of having a friend or relative open an account for me where I can depsit money into. But by adding my name to it, is it not protected if another court order is placed against me? If not, how would I protect myself in the future using a banking resources rather than stashing my money under the matress?

First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

As long as you are listed as an owner of the account, they can attach it. The way to avoid this is to work out a payment plan and stick to it.

Please understand.. I have a description below to explain my delima and have 7 key factors that I need answered. Know that I have looked into it and would like an answer to those and not another question for further info. Assume that I have looked into every route and answer the best you can. Thank you SO SO much and I really appreciate it.

My bank accounts were recently restrained by a firm. I'd like to know how I can prevent this from happening in the future. (pay the bills I know) However, would they had been able to do this if I was simply on some one else's account? I thought of having a friend or relative open an account for me where I can depsit money into. But by adding my name to it, is it not protected if another court order is placed against me? If not, how would I protect myself in the future using a banking resources rather than stashing my money under the matress?

I had a few of my own ideas...

1. What would happen if some one goes to court to freez my accounts again? Would they be safe if I am simply a secondary on the account and the owner and primary on the account?

2. If I placed my money in a paypal account would they recognize it and freeze it as well?

3. Is there anywhere other than under my mattress where I keep keep money so this can't happen again?

4. I may or may not owe most of this dept and I know this but I need to take care of it on my own pace. Is there any possible factor I can say WAIT lets talk before this happends if I am not mailed or notified?

5. After this I opened 3 bank accounts in hopes that one will be frozen in a chain reaction giving me some time to make lifely withdrawals in the others. Is that is what is likely to occur or will it all happen at once on the same day of all my accounts at all different banks?

6. They have prepaid debit cards at small agencies like Ace Checking. Can they freeze those as well if I decided to keep money in that method?

7. I know I have other debts that maybe outstanding which is why I'm afraid this will happen again. Fortunately, it only cost me $800 to take care of it this time. If I file bankruptcy (chapter whatever I don't know) does that protect me and allow me to start fresh?

Help to these unknowns is so helpful to me. Comments , etc. to my situation is appreciated but I am well aware of my mistakes. However, I need not to be able to eat for 2 weeks str8 because of $800 bucks I owed to Circuit City.

I am looking into taking care of debt and recover my credit. In the meantime I MUST know how to protect myself from things like this.

Thanks

1. If you are listed on the account it can be frozen and then the other party will have to prove which of their money is in that account

2. paypal is a little harder to find, but can still be found, and frozen if it is found

3. cokie jar ,'

4. you can always try to make a deal with the debtor but get it in writing, since they will lie to you normally

5, pot luck, since they can often get the info from the report that shows which bank checked on you to allow you to open an account, but it is possible one would get served first

6. most debit cards connect to a social security number but would be harder to tract

7. most likely you can not file a bankruptcy on just 800, there are specific debt to income ratio that has to be meet.

You get with them, work out a payment plan in writing.

THANKS SO MUCH FOR THE DIRECT ANSWERS. I really appreciate it a lot..

As for number 3..
Is there really no way I can safely electronically store money to protect it from a court order? You said as long as my name is on it I'm not safe I do understand that. Is there no loop-hole or alternative? I've lost so much trust in banking after this but glad its over. But now I feel very uncomfortable about where my money is placed.

I thought of asking a friend/relative to open a savings account solely in their name and assumed that would be concrete for me if I get another judgement against me. The only thing about that is I wouldn't have access to it if that person is not available to get funds for me.

OR.. Possibly a checking account and I keep my friend's/relitive's personal checks to write out to myself when needed and cash it and the bank where they have opened the account for me?

I am not really savvy when it comes to things like this. I'm only trying to figure out how to protect funds the best way possible. I tried to think of everything from the crazyness I mentioned to foreign banks. Is there anything I can do?

As for my question in number 6... (Prepaid debit card)

I've lost a bank card in the past and had to go to one of those small agencies that give you prepaid debit cards. (Like those places next to the gas stations, pawn shops, etc.) They pretty much just ask you for a social and you can tell them whatever you want. As long as it is not in their private system as being a person that had a problem with them in the past. When I had the card my SS was always incorrectly inputted in their system. If that being the case again can they track it? It seems that the prepaid thing is more for people who cannot get a bank account because they killed their SS# and I am pretty sure they don't report it to anyone.

Basically I am simply trying to find the best method to store at least some money in case this happends again without hiding cash. I just came back from Jamaica on vacation when this happened and it left me without a penny. No money to get to work no food, I was starving.. :confused: All over a retail store credit card. If I had known I would had just paid it but wasn't notified what was happening. I know I could had fought it from that fact alone but doing so would take way too long. So I am just looking for a safety net.

Quote:

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Originally Posted by Fr_Chuck

1. if you are listed on the account it can be frozen and then the other party will have to prove which of thier money is in that account

2. paypal is alittle harder to find, but can still be found, and frozen if it is found

3. cokie jar ,'

4. you can always try to make a deal with the debtor but get it in writing, since they will lie to you normally

5, pot luck, since they can often get the info from the report that shows which bank checked on you to allow you to open an account, but it is possible one would get served first

6. most debit cards connect to a social security number but would be harder to tract

7. most likely you can not file a bankruptcy on jsut 800, there are specific debt to income ratio that has to be meet.

You get with them, work out a payment plan in writing.

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1. I answered this in my original response
2. its still an asset. It can be found and attached.
3. Try paying your bills instead of hiding your assets
4. If they have attached your account it means they have already obtained a judgement. At that point its too late. If you have not been sued yet, then you can try to discusse and negotiate with the creditor
5. Depends on how through the creditor is.
6. Any cash assets can be attached. Some are harder than others.
7. yes

If you can trust someone with your money then yse you can hide it that way. But again I say try dealing with your debts and not hiding from them

Thank you for the response. I just signed up yesterday so I wasn't aware of your little rules. Hense my first comment.. "Excuse me if I'm doing this incorrectly". I know how you web page forum controllers are... Thanks for letting me know and the responses from the other guy was a great help.