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Best place to keep your money to keep it from being garnished?

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Jesse Smith

Junior Member
Oregon

My wages are about to be garnished (just for putting a little bit of ink on some old rental contract paper!!), and I'm guessing next it'll be the bank account. Any one have any advice for where to move my bank balance, to keep it from being taken? Right now it's in PayPal. Do PayPal accounts ever get garnished?

Only other idea I can think of is getting money orders from the post office and then stashing them in a Lock Box. Do money orders have any protection when lost or stolen, or are they no different than cash?
 


Proserpina

Senior Member
Oregon

My wages are about to be garnished (just for putting a little bit of ink on some old rental contract paper!!), and I'm guessing next it'll be the bank account. Any one have any advice for where to move my bank balance, to keep it from being taken? Right now it's in PayPal. Do PayPal accounts ever get garnished?

Only other idea I can think of is getting money orders from the post office and then stashing them in a Lock Box. Do money orders have any protection when lost or stolen, or are they no different than cash?

...I doubt anyone here is going to help you hide money that you owe to creditors.

(Other than perhaps suggesting bankruptcy)
 

Zigner

Senior Member, Non-Attorney
The OP COULD stash his money in the Judgment Creditor's bank account - would kill two birds with one stone!
 

sandyclaus

Senior Member
Invest in a good mattress. And a good attorney.

Any and all bank accounts that you have could be subject to seizure (with the exception of any legal exemptions). Including that PayPal account (it is linked with that bank account, isn't it?).

And in some states, they can even send the Sheriff to your house to seize property in and around your home that could be sold to satisfy the judgment.

I'll bet paying off that pesky rental contract is looking pretty good right now.

Oh, and by the way, even if you are hiding assets now, those judgments stick around for YEARS. Once the initial statute of limitations runs out, most judgments can be renewed for an additional period. In some states, a judgment can be collected up to 20 years after it's initial award. Circumstances change, and hiding money for that long will get really old really quick. Those collection efforts WILL catch up with you eventually. And if the creditor is really determined to collect, then it's just a matter of time until the fool (YOU) and his money part ways...
 

racer72

Senior Member
In addition to the above, the creditor could call you into court and you could be required to turn over any information about all your assets, this is called a debtor's exam. Failure to comply could result in criminal charges.
 

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