Author Topic: Is keeping cash versus a bank account a good way to avoid collectors?  (Read 5138 times)

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Dollar short

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Re: Is keeping cash versus a bank account a good way to avoid collectors?
« Reply #60 on: March 21, 2017 10:20:12 PM »
Then keep it in an exempt account. The money can lose its exempt status if you move it around.
 

The only problem with that is you can only have two months of of exempt money in a bank account. Any amount over the two month amount is subject to garnishment.
« Last Edit: March 21, 2017 10:29:39 PM by Dollar short »

Flyingifr

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Re: Is keeping cash versus a bank account a good way to avoid collectors?
« Reply #61 on: March 23, 2017 04:15:38 AM »
 

The only problem with that is you can only have two months of of exempt money in a bank account. Any amount over the two month amount is subject to garnishment.

Then read "Making Yourself Judgment Proof" in the Flyingifr Method. There are ways to hinder bill collectors from getting nonexempt funds. If they can't find it they can't grab it, and if they do find it what is there today can be zero tomorrow.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Debtors Exams are the perfect place for us Senior Citizens to show off our recently acquired Alzheimers.

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CleaningUp

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Re: Is keeping cash versus a bank account a good way to avoid collectors?
« Reply #62 on: March 24, 2017 08:20:49 PM »
I believe the BOA settlement with the regulators resolved the paperwork issues on Countrywide loans.


 

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