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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: I'm Drowning...advice on refinancing mortgag Date:  7/30/2010  8:42 AM
Author:  xtn Number:  298698 of 312702

Since there is earned income, they are not "judgement" proof. Creditors can obtain judgements against bank accounts. The worst case is that a judgement hits and causes mortgage payments to bounce.

I've always wondered... can't a person wait until after he's revealed his accounts to the court, and then immediately run out and open a new account and transfer his money into it before all the other accounts get frozen up?

I'm guessing there are methods the court uses to prevent this, but I'm curious what they are.

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