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New Member
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Jul 18, 2010, 08:07 AM
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How can I protect my life insurance payment from credit card creditors.
Can creditors freeze my bank account without going to court to get the money I received from my deceased husbands life insurance check
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Uber Member
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Jul 18, 2010, 08:11 AM
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A creditor needs a Judgment in order to take money from your account.
The proceeds of the insurance can be used to pay your debts.
Is the credit debt yours?
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New Member
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Jul 18, 2010, 08:19 AM
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Yes it is my debts. It is a long story how I became in debt. But my husband recently died and I am worried about the life insurance money being taken by creditors
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Uber Member
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Jul 18, 2010, 08:24 AM
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Hello pat:
They're probably going to take it. You might try bankruptcy.
excon
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New Member
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Jul 18, 2010, 08:29 AM
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Can creditors freeze your bank account without going to court first
Another words can they get a judgment against you and your bank account without a summons and court hearing?
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Computer Expert and Renaissance Man
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Jul 18, 2010, 08:31 AM
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As noted, first they must get a judgement against you. Have you been served with any summons? Are you even behind on your payments?
If you want to protect it, don't put it in a bank account.
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Uber Member
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Jul 18, 2010, 08:35 AM
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 Originally Posted by ScottGem
If you want to protect it, don't put it in a bank account.
Hello Scott:
That's going to be hard to do if they cut her a check. Do you have an idea?
excon
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Computer Expert and Renaissance Man
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Jul 18, 2010, 08:37 AM
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Please don't start a new thread on the same issue. I've merged your threads for you.
Before they can get a summons they are supposed to serve you with notice of a suit and there has to be a hearing. However, sometimes, unscrupulous collectors will fudge service in order to get a default judgement.
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Computer Expert and Renaissance Man
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Jul 18, 2010, 08:39 AM
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 Originally Posted by excon
Hello Scott:
That's gonna be hard to do if they cut her a check. Do you have an idea?
excon
Deposit it and withdraw as soon as possible before they get wind of it.
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Uber Member
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Jul 18, 2010, 08:41 AM
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If she files in Bankruptcy she has to list all transfers - and this is a transfer.
I'd say cash the check, withdraw the money and don't file for Bankruptcy. That can always be done at a later date.
On the other hand - times are tough for everyone. Aside from circumstances I'm not sure advising someone how to beat the system is a good idea.
Just sayin'.
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Uber Member
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Jul 18, 2010, 08:45 AM
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 Originally Posted by ScottGem
Deposit it and withdraw as soon as possible before they get wind of it.
Hello again, Scott:
I assumed that the check would be written AFTER a judgment was entered. If so, she probably wouldn't have ANY accounts that they DON'T already have wind of.
Besides, I'm not sure, that if she's aware that a judgment against her is pending, and she tries to hide this money, it COULD be considered fraud. Could it not?
excon
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Expert
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Jul 18, 2010, 08:47 AM
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Is this going to be one large lump sum, or is it monthly check.
Either way of course they can if they get a judgement, A judgement requires a court hearing.
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Computer Expert and Renaissance Man
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Jul 18, 2010, 08:52 AM
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I'm getting the feeling that no summons has been issued yet. We don't even know if she is delinquent. I think we need more info here.
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New Member
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Jul 18, 2010, 08:55 AM
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Thank you all for your varying advice. It is not so much trying to beat the system as financial survival. I am a 69 year old widow with limited income.
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Uber Member
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Jul 18, 2010, 09:02 AM
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No problem with that BUT you need to answer questions:
Is it your debt? (I believe you said it is but there are special circumstances.)
Have you been served with papers concerning the debt?
What State? Is the debt yours, your husband's, joint? Was any part of the debt HIS medical expenses?
How much money are "we" talking about - both the debt and the insurance.
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