Judgment an asset?

[chinabloo]

What is the name of your state? Ohio

My husband are still kicking around the possibility of filing bankruptcy. When we consulted an attorney almost 2 years ago, he indicated that a judgment that my husband won against a former employer for over $22K would be considered an asset even though it has not been collected. Does this sound right to you?

(The employer has since moved to Florida so we may have some trouble collecting.)

 

[Ladynred]

Probably true, but one that won't bear any fruit on the money tree w/o a LOT of legal effort to collect on it. If, at some point, you were to get paid, the Trustee could be there with his/her hand out. I've read cases where Trustees got paid this way even years later because the 'asset' was part of the BK estate.