What can you do with your money if you have a judgment against you?

Answer 1

Paying off the judgment is a good option. It can prevent liens on your property and garnishments on your wages, which also tend to get your employer upset. If the debtor wants to protect his or her funds that are deposited in a checking or savings account from being levied by a judgment creditor, then the only option is to close the account before the banking institution is served with the levy order. Be advised, that action may or may not suffice, as the court could have the power to order all funds to be returned and frozen until it is decided if the conveyance was legal. The debtor cannot take any action in regards to an account that has already been levied. If the account was joint and only one account holder was named on the judgment, the innocent party will have to prove to the court the percentage of funds in the account that is rightfully theirs before the court will release any monies. While I certainly support answer 1 - because paying your debts is simply the right thing to do, it makes sense financially speaking too...as you'll probably not avoid doing so perpetually and interest and fee's will continue to accrue at a likely higher rate than you'll get an an alternative investment. but, if you insist, I believe most qualified retirement accounts, like IRAs and such, are exempt from seizure.