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The answer may vary somewhat from state to state. There are exemptions from attachment that may protect some or all of the money up to a certain amount. You can put it into other things that are exempt up to a certain amount.
Generally, the only way to protect money that cannot be exempted from judgment is to put it into a trust, keeping in mind that if you establish the trust with your money and you are the trustee and the beneficiary, ti will usually not protect you. You have to give up some control over the money for it to be protected.
Consult a local lawyer.
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What are creditors?
Creditors are people or organizations (companies, councils, tax man etc) to whom you owe money. Bills, people you owe money to
What is the money owed to creditors called?
Accounts Payable
What is the effect of liquidation on creditors?
When a company liquidates, creditors generally receive less money than they owe. Creditors will have to write off the balance, so that their books can balance.
What does Making money on the front end and making money on the back end mean?
making money on the front end= pay yourself first and then creditors making money on the back end= pay creditors first and whats left over (the backend) is all yours
Can creditors take money from your bank account?
Yes, after a judgment has been granted against you
What is the best way to protect assets from creditors?
Move to Texas and put your money into exempt assets; e.g., a homestead, retirement assets, life insurance, annuities . . . .
How is asset protection trust properly defined?
An asset protection trust is a trust which holds assets to protect them from creditors. It is used when one wishes to settle with creditors and protect his assets from seizure.
What is the creditors?
money owed by the company
People you borrow money from are your?
Creditors
What is the difference between Sundry debtors And Sundry Creditors?
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
What is difference between sundry debtors and sundry creditors?
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
What are creditors?
Creditors are people or organizations (companies, councils, tax man etc) to whom you owe money. Bills, people you owe money to
Do you list a landlord on the list of creditors in a bankruptcy?
You do if you owe him money. You must include ALL creditors.
What is the creditors balance?
money owed by the company
What is the definition of debtors and creditors?
Debtors are people who owe money to creditors. Creditors are people who are owed money by debtors. For example, the bank is a creditor allowing people to take out loans and the people taking out the loans are the debtors.
What is the money owed to creditors called?
Accounts Payable
Is money in your reverse mortgage acct safe from creditors?
No.
