I have an abstract of judgment filed against me...is this co
by Guest » Wed Apr 13, 2011 10:13 pm
consisting of small credit card bill.....and would like to cash surrender my life insurance policy. would the judgment be a lien or claim against it?
Total Comments: 2
Posted: Wed Apr 13, 2011 11:04 pm Post Subject:
It's very unlikely that your creditors could attach the funds while still held by the insurance company. On the other hand, once you get the funds, you are "fair game" for your creditors.
If you place the money into a bank account- the account is absolutely subject to levy/attachment. If they're already obtained a judgment against you in prior court proceedings, most jurisdictions have already given the creditor "permission" to go after any funds that may be available to satisfy the debt without having to go back to court. Other jurisdictions state that the creditor must take separate action to levy/attach accounts and only after a judgment has been previously obtained.
InsTeacher 8)
Posted: Tue Aug 23, 2011 08:11 pm Post Subject: OOEQmovIjzKbGdihu
Posted: Wed Apr 13, 2011 11:04 pm Post Subject:
It's very unlikely that your creditors could attach the funds while still held by the insurance company. On the other hand, once you get the funds, you are "fair game" for your creditors.
If you place the money into a bank account- the account is absolutely subject to levy/attachment. If they're already obtained a judgment against you in prior court proceedings, most jurisdictions have already given the creditor "permission" to go after any funds that may be available to satisfy the debt without having to go back to court. Other jurisdictions state that the creditor must take separate action to levy/attach accounts and only after a judgment has been previously obtained.
InsTeacher 8)
Posted: Tue Aug 23, 2011 08:11 pm Post Subject: OOEQmovIjzKbGdihu
Shoot, so that's that one sppuseos.
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