I am going to receive monies from the sale of my Moms house and I wanted to know can this money be taken away from me from my debtors?
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I am going to receive monies from the sale of my Moms house and I wanted to know can this money be taken away from me from my debtors?
If a creditor receives a judgment against you and garnishes your bank account, yes, any money in there can be taken. So put the money in an account that can't be attached, or invested so it can't be. Or, if possible, in an account outside the country you where you live.
I trust you mean your creditors, the people who lent money to you.
Yes, these funds can be taken IF there is a Judgment against you.
Well of course they should not have to "take it away" since you owe them, I am sure you are wanting to do the moral and right thing and pay your debts.
The truth is if you owe them money, and if they have a judgement, they can just put a freeze on the money as soon as you get it.
And also assuming that they know you will be receiving this money from the house sale. If you filed bankruptcy and did not list this asset and the trustee handling your bankruptcy finds out you'll be in a world of hurt for hiding assets and your creditors will happily get a big chunk of your sale money.
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