Question:
I don't want to file a bankrupcy and can't repay my credit card debt.
I reside in Texas. I do have an income and there is very little left
out of it which goes to saving account. My question is what
banks/collection agencies can do to get those money.
My understanding that my personal property and wages are protected in
Texas but collection agencies can go after my bank accounts. So what
can I do to protect my saving or checking account?
If they get judgmemt and before trying to collect money from my bank
account will they server me a note about it so I can remove money?
What is I move money to brokerage account or CD?
Anybody been through that or knows it?
Answer:
If they get a judgement and you remove the money to avoid it you could be
facing some serous trouble. Keeping money in a brokerage account or CD
won't help. IF it is determined you are unlawfully trying to evade a
lawful judgement it won't be pretty. Don't do it.
You are enttitled to try to negotiate a settlement for less than you
actually owe. See a lawyer before you try anything more fancy than that,
at least get sufficient information to stay out of jail. And don't rely
on information you get from people who you don't know, can't check on and
can't hold accountable for the information provided, including mine.
