Can they Seize property?

[seFlaDude]

I was also told by my bank that if they received a seizure order from the court they of course would have to obey it, all of my accounts are protected by state statutes but I would still have to go thru the exemption process thru the court to have the money returned or released, I have seperate accounts as to avoid comingling and have a clear paper trail as to the monies source, But i am about to find out very soon how well this strategy works as I have a recent summary judgement and debtor's exam

[OHBOY]

(Quote by 'seFlaDude':But i am about to find out very soon how well this strategy works as I have a recent summary judgement and debtor's exam)

Sure would appreciate if you could post your experiences as they are happening... I too expect some judgments rolling around eventually...

[seFlaDude]

ohboy,
will do, have not turned in my debtor exam yet, but will post as things progress

[catleg]

Re: bank accounts and debtors exams, my best practices recommendation would be to close any accounts you list on the debtors exam as soon as you mail it, and then open new ones preferably with different banks right afterwards
In that way you haven't perjured yourself.

I think realistically you only would put down information that the creditor already knows, or has the ability to find out easily. I think the whole concept of debtors exam is more about "heat" than "light". (Causing fear vs actually collecting anything).

[OHBOY]

The plan sounds fine, but I wonder if one could not run into difficulty opening a new checking account after credit score is down already, or after possibly some judgment are already filed. Had read of some poeple having problems opening new account ?

[jacko]

Why not open a Wal Mart money card and be done with it? Why take chances?

[seFlaDude]

Just a quick update for those interested, My debtor's exam was turned in to my attorney and is being sent to the judgement creditor's attorney, Time will tell with what they will do from here, I will update as things happen or not. Best of luck to anyone else in my situation

[OHBOY]

'seFlaDude':
THANK's for the update !
Any and all info is sincerely appreciated as it certainly offers a learning opportunity.
Good Luck to you too !
Best Regards from one in the same squeeze box.

[tobefree]

Thanks for everyones posts thoughts and personal experience. just did receive a "debtors exam" from citi's lawyer titled only in hubbys name-although i am sure they will send me one as well. Still cant file BK due to not having any "disposable income". I understand hubbys wages are exempt as he is head of househould supports dependents 100% and also makes less than $500 a week. Question: His check is direct deposited and is the only deposit we have on a week to week basis-understanding his "wages" are exempt-wouldnt that make our bank account exempt from a freeze as it is the same "exempt" money?
I am contemplating on filing a "claim of exemption" with the county clerks office and also sending them a copy. Would this help to protect a freeze on my account. Id hate for my mortgage check to bounce due to a freeze. (i have already contemplated the idea of changing accounts as well) ....but would hate to if i dont have to...i already feel like a "bank hopper"

[OHBOY]

Thanks for everyones posts thoughts and personal experience. just did receive a "debtors exam" from citi's lawyer titled only in hubbys name-although i am sure they will send me one as well. Still cant file BK due to not having any "disposable income". I understand hubbys wages are exempt as he is head of househould supports dependents 100% and also makes less than $500 a week. Question: His check is direct deposited and is the only deposit we have on a week to week basis-understanding his "wages" are exempt-wouldnt that make our bank account exempt from a freeze as it is the same "exempt" money?
I am contemplating on filing a "claim of exemption" with the county clerks office and also sending them a copy. Would this help to protect a freeze on my account. Id hate for my mortgage check to bounce due to a freeze. (i have already contemplated the idea of changing accounts as well) ....but would hate to if i dont have to...i already feel like a "bank hopper"

Sorry, but I am confused, (nothing new...), why would you not be able to file if you have no 'disposable' income. Seems to me that all it woud indicate that you are truly broke/bankrupt. As long as you have debts in your name I would think you are eligible to file.

[tobefree]

I beleive i am truly broke/bankrupt Ohboy--I will be filing CHPT 13 as I do have assets to protect. Just no disposable income to "fund" a payback plan. $400 a week for a family of four barely gets us enough food after mortgage, electric, home insurance, car insurance, gas, phone...(yada yada)....i would hate to set myself up for failure with a payback plan if i can not even afford to live right now... so with that said i can not file and feel confident i will be able to get through the next 3 or 5 yrs..

[jacko]

What assets do you need to protect? You make to little income to file a 13. Seems you are collection proof.

I beleive i am truly broke/bankrupt Ohboy--I will be filing CHPT 13 as I do have assets to protect. Just no disposable income to "fund" a payback plan. $400 a week for a family of four barely gets us enough food after mortgage, electric, home insurance, car insurance, gas, phone...(yada yada)....i would hate to set myself up for failure with a payback plan if i can not even afford to live right now... so with that said i can not file and feel confident i will be able to get through the next 3 or 5 yrs..