Legal Question in Credit and Debt Law in Florida
Asset protection
Approx 4 years ago fraudulant charges were placed on my credit card. I disputed them as directed however the card company ignored it and is harrasing me for payment. I recently learned they placed a judgment on me in 2005 which I was not aware of. I have a CD for my retirment in my corporation name which I understand they cannot touch. I also have 2 cars and a small boat in my name, all with lender leins. Can the card company touch the cars/boat from the lender lein or would they have been safer under the corporation name?
1 Answer from Attorneys
Re: Asset protection
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
The creditor can go after any equity in the cars and boat by taking the items, selling them at auction, paying the liens and keeping the difference. From a practical standpoint, they may not want to bother. Alternatively, you may wish to try to negotiate a settlement with the credit card company on the judgment. I just successfully settled one for almost half of the judgment amount for a client.
Scott R. Jay, Esq.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
