Head of family debtor's savings can be attached?

[riggins33]

Thanks, and do agree that I cannot get that salary from debtor. Will not go to court to prove this.

 

[adjusterjack]

I'm sympathetic. I had several uncollectible judgments against deadbeat tenants years ago. At some point you have to accept the loss and get on with your life and just hope that karma catches up to them.

 

[riggins33]

Thanks once again.

 

[LdiJ]

Thanks, and do agree that I cannot get that salary from debtor. Will not go to court to prove this.

Then why are you wasting time here with all of your arguments?

 

[riggins33]

“Then why are you wasting time here with all of your arguments?” you asked a very good question. Adjusterjack’s answers, saying that the debtor’s salary in tenancy by entirety is judgment proof made me think why adjusterjack is saying like that. Therefore, then, I did my research. These are the findings.

726 FRAUDULENT TRANSFERS, it says:

“Transfer” means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance.




Chapter 726 FRAUDULENT TRANSFERS says:

“Asset” means property of a debtor, but the term does not include:

(a) Property to the extent it is encumbered by a valid lien;

(b) Property to the extent it is generally exempt under nonbankruptcy law; or

(c) An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant.





222.11 Head of family (222.11 Exemption of wages from garnishment http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0222/Sections/0222.11.html ) states:



Disposable earnings of a head of a family, which are greater than $750 a week, may not be attached or garnished [i.e., it is exempt] unless such person has agreed otherwise in writing.



Earnings that are exempt under subsection (2) and are credited or deposited in any financial institution are exempt from attachment or garnishment for 6 months after the earnings are received by the financial institution if the funds can be traced and properly identified as earnings.

Therefore, debtor’s salary, while it is at the employer, is exempt asset (because I cannot garnish or attach it as per 222.11 Head of family). Therefore, I have no right to claim, using 726 FRAUDULENT TRANSFERS, on that exempt asset (726 FRAUDULENT TRANSFERS is for transfer of non-exempt assets only)



Also, hypothetically, if debtor deposits his salary is a bank account on his name alone, but later transfer that money to tenancy by entirety account within 6 months of its deposit, still I cannot claim 726 FRAUDULENT TRANSFERS, because it is exempt for 6 months.



If adjusterjack did not provide his answer, I would not have done this research, and would not have found this. I am agreeing with adjusterjack, after I did the above research.

 

[LdiJ]

You could have simply said that after doing research, you agree with Adjusterjack.

 

[riggins33]

That is corretc, but I wanted to provide my findings to the forum so that other visitors may be benefited (or help me by showing any flaws in my arguments, to correct myself).