Debtor spent all his cash quickly

[softguy]

What is the name of your state? Florida

I am in the process of debt collection after a long bitter legal battle I won. Judgment debtor from Florida withdrew $100,000 cash in a single month from his bank accounts, and spent it within 3 months, towards the end of that lawsuit. After the judgment, he testified under oath that he spent that cash mainly on expensive wines which he used to prepare and eat special dishes almost every day, and the remaining cash he spent on travel by taxis and limousines, and some gambling, all by cash. He testified that he has no receipts for some of them, and lost the remaining receipts, and that he cannot recall the names of any of those wine shops, taxi companies, or the casinos. His final answer is "it is my money and I spent as I like".

He has no other properties or assets. Now there is nothing else to collect from him as he is with $0, living exclusively on his social security benefits which are directly deposited into a special account thereby made them untouchable. Any hint on disproving his spending claim? Also is it legal to withdraw $100,000 cash from his bank accounts in around a month time, or to keep or carry that cash with him in his home or during travel?

 

[quincy]

You can initiate a “proceedings supplementary:”

http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0056/Sections/0056.29.html

 

[LdiJ]

What is the name of your state? Florida

I am in the process of debt collection after a long bitter legal battle I won. Judgment debtor from Florida withdrew $100,000 cash in a single month from his bank accounts, and spent it within 3 months, towards the end of that lawsuit. After the judgment, he testified under oath that he spent that cash mainly on expensive wines which he used to prepare and eat special dishes almost every day, and the remaining cash he spent on travel by taxis and limousines, and some gambling, all by cash. He testified that he has no receipts for some of them, and lost the remaining receipts, and that he cannot recall the names of any of those wine shops, taxi companies, or the casinos. His final answer is "it is my money and I spent as I like".

He has no other properties or assets. Now there is nothing else to collect from him as he is with $0, living exclusively on his social security benefits which are directly deposited into a special account thereby made them untouchable. Any hint on disproving his spending claim? Also is it legal to withdraw $100,000 cash from his bank accounts in around a month time, or to keep or carry that cash with him in his home or during travel?

Social Security is untouchable even if its not in a "special account". He hasn't done anything illegal. IF he has cash assets at home somewhere, you may never be able to prove it.

 

[softguy]

Thanks for sharing your advice.

Proceedings supplementary 56.29(2) specifies, "The judgment creditor shall, in the motion described in subsection (1) or in a supplemental affidavit, describe any property of the judgment debtor not exempt from execution in the hands of any person or any property, debt, or other obligation due to the judgment debtor which may be applied toward the satisfaction of the judgment. " The problem here is he has no more non-exempt property.

The court has not placed any constraints whatsoever on his money. If the court did not place such constraints, is he free to spend as much cash as he wish on liquor and use that liquor like water in cooking special dishes, etc? Also is he not obligated to keep or produce any receipts for such purchases (or for paying for other items like taxi, gambling)? If the answer is yes for both these questions then I most probably reached a dead end in collecting his money.

 

[quincy]

Thanks for sharing your advice.

Proceedings supplementary 56.29(2) specifies, "The judgment creditor shall, in the motion described in subsection (1) or in a supplemental affidavit, describe any property of the judgment debtor not exempt from execution in the hands of any person or any property, debt, or other obligation due to the judgment debtor which may be applied toward the satisfaction of the judgment. " The problem here is he has no more non-exempt property.

The court has not placed any constraints whatsoever on his money. If the court did not place such constraints, is he free to spend as much cash as he wish on liquor and use that liquor like water in cooking special dishes, etc? Also is he not obligated to keep or produce any receipts for such purchases (or for paying for other items like taxi, gambling)? If the answer is yes for both these questions then I most probably reached a dead end in collecting his money.

If you have reached a dead end currently, just make sure to renew the judgment before it expires - and periodically check on his financial status. He might find it difficult (or think it unnecessary) to divert non exempt funds for the long term.

 

[softguy]

Thanks again for sharing your advice.

" If you have reached a dead end currently,..." that is I am not sure and I am requesting the advice from this reputed forum on if I reached dead end currently.

 

[quincy]

Thanks again for sharing your advice.

" If you have reached a dead end currently,..." that is I am not sure and I am requesting the advice from this reputed forum on if I reached dead end currently.

If you can’t locate any nonexempt assets to satisfy the debt, it sure sounds like a dead end.

You could hire a private investigator to better determine if the debtor has lied about his assets or to possibly track down hidden funds.

 

[adjusterjack]

Thanks again for sharing your advice.

" If you have reached a dead end currently,..." that is I am not sure and I am requesting the advice from this reputed forum on if I reached dead end currently.

This thread looks familiar. Didn't you post it somewhere and the debtor only spent $60,000 in 3 months?

 

[softguy]

His financial records show he was living on $3000 a month for last 3 years, now, suddenly, he spent $100,000 in 3 months prior to judgment. Will this help court to believe he has hidden the cash, or to take some action in my favor?

This is my first time posting about this matter.

 

[NeilTheCop]

Was the the debtor represented by an attorney at the hearing?

 

[softguy]

Thanks for continued advice. "Adjusterjack" I did not post that and you may contact them for verification if it is posted from where I am. The debtor was represented by attorney until the judgment.

 

[quincy]

His financial records show he was living on $3000 a month for last 3 years, now, suddenly, he spent $100,000 in 3 months prior to judgment. Will this help court to believe he has hidden the cash, or to take some action in my favor?

This is my first time posting about this matter.

All the spending of $100,000 shows is that he had money and he spent it.

 

[NeilTheCop]

The debtor was represented by attorney until the judgment.

Then the debtors actions may have been at the advice of his attorney, and there's little you can do.

 

[quincy]

If there was no injunction to prevent the depletion of assets prior to judgment, the debtor did nothing wrong.