Author Topic: debtors exam  (Read 1439 times)

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mro234930321

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debtors exam
« on: November 15, 2007 01:22:47 PM »
I got served debtors exam for 7 figuire debt it was left on my door. I have nothing am broke. I have no records of any kind. please help me. I cannot even go BK.

Rottweiler

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Re: debtors exam
« Reply #1 on: November 15, 2007 06:32:36 PM »
Most likely all you can do at the moment is make sure any exemptions you legally are allowed to take and can take are on file with the court as required per the RCP.  And show up...or the court can have the Sheriff make you come and find you in contempt of court to boot.

If you really, truly have nothing, the debtor's exam will show that they have nothing to get.  All you need is to answer truthfully.
“This is a court of law, young man, not a court of justice."
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utahmike41

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Re: debtors exam
« Reply #2 on: November 15, 2007 07:48:36 PM »
Seven figures?  Ouch! 

What is a debtor's exam?  Is that slang for something?
We're surrounded? Good! Now we can shoot in any direction! - Lieutenant General Lewis B. "Chesty" Puller, USMC

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Re: debtors exam
« Reply #3 on: November 15, 2007 09:28:42 PM »
debtor's exam:  Technically referred to as an "Information Subpoena" in most judicial districts, it is a sworn deposition in which the judgment debtor is grilled by the judgment creditor/their attorney as to where the money and assets are. This is done to try to find sufficient property to replevin (seize) to satisfy a judgment which has gone unpaid.
“This is a court of law, young man, not a court of justice."
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utahmike41

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Re: debtors exam
« Reply #4 on: November 15, 2007 11:00:58 PM »
Oh.  I got one of those once.  Shredded it and used it as fill for my cats litter box.  Hmmph.  Guess I shouldn't have done that. 
We're surrounded? Good! Now we can shoot in any direction! - Lieutenant General Lewis B. "Chesty" Puller, USMC

Rottweiler

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Re: debtors exam
« Reply #5 on: November 16, 2007 03:05:49 AM »
Was it served on you per the RCP?  If it was, you are lucky you did not get hauled into court.

However, I believe what you might have gotten was a simple form asking for the information, not a formal summons.  If the form was not issued by the court (and was being used as part of the process or a substitute for a live deposition), you had nothing to worry about.
“This is a court of law, young man, not a court of justice."
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wesaidso

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Re: debtors exam
« Reply #6 on: November 16, 2007 03:21:14 AM »
California you cant do a nail & mail as in dropped on the front porch for a judgment debtor it must be given to you in person I would think this would be the same all over the country. Why cant you go bk?
"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man."

Flyingifr

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Re: debtors exam
« Reply #7 on: November 16, 2007 10:15:47 AM »
Let's look at the OP's question - what do I do with a Debtor's Exam?

The purpose of a Debtor's Exam is to allow a Judgment Creditor to find assets or income that can be used to satisfy a Judgment. The decision of whether to comply with the Exam or not is usually pretty cut and dried - failure to respond can be punished as Contempt of Court since the Debtor's Exam is a Compulsory process.

The key to the Debtor's Exam is time - what is true on Tuesday when you answer the Exam questions can be totally obsolete on Wednesday. Let's give an example:

One of the questions will be "Where do you maintain a bank account", or something similar. The obvious intent is to locate a bank account for purposes of levy. On Tuesday you honestly answer "XYZ Bank, 123 Main Street, Anytown, AZ".

On Wednesday you close that account and move your funds to ABC Bank in Faraway City, Other State. At the time you answered the question, it was an accurate and honest answer, but there is no law requiring you to let your funds just sit there like a sitting duck waiting to be grabbed.

Here are  a couple of links to help you learn a bit more about becoming Judgment proof:

http://www.debtorboards.com/smf/index.php?topic=12.0
http://www.debtorboards.com/smf/index.php?topic=14.0
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.

Morality of Debt? No one ever went to the Nether Regions for not paying a debt.

Founder of the Credit Terrorist Training Camp (Debtorboards)

Rottweiler

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Re: debtors exam
« Reply #8 on: November 16, 2007 10:41:33 PM »
Flying, I was answering the apparent question:  "How do I respond to this summons for a Debtor's Exam?"  All they can do is what I said:  Show up with exemptions claimed and suffer the depo.. You have jumped ahead of the situation, and dangerously so, IMHO.. If the OP were to try to do these "asset proofing" moves too soon (a real risk here) they would end up in deep doo-doo.

In other words, first things first.
“This is a court of law, young man, not a court of justice."
~ Olver Wendell Holmes

utahmike41

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Re: debtors exam
« Reply #9 on: November 16, 2007 11:14:49 PM »
It was drafted by a lawyer and snail mailed.   No court action and no judge's signature.
We're surrounded? Good! Now we can shoot in any direction! - Lieutenant General Lewis B. "Chesty" Puller, USMC

Flyingifr

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Re: debtors exam
« Reply #10 on: November 16, 2007 11:16:32 PM »
Flying, I was answering the apparent question:  "How do I respond to this summons for a Debtor's Exam?"  All they can do is what I said:  Show up with exemptions claimed and suffer the depo.. You have jumped ahead of the situation, and dangerously so, IMHO.. If the OP were to try to do these "asset proofing" moves too soon (a real risk here) they would end up in deep doo-doo.

In other words, first things first.

I agree fully, that's why I said "what is true on Tuesday when you answer the Exam questions can be totally obsolete on Wednesday."
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.

Morality of Debt? No one ever went to the Nether Regions for not paying a debt.

Founder of the Credit Terrorist Training Camp (Debtorboards)

mro234930321

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Re: debtors exam
« Reply #11 on: November 17, 2007 08:43:29 AM »
I am going to ignore it because they cannot prove I recieved the thing. They will just have to wait for when I get pulled over for trafic violation or something that could take years. Besides I am going to move again in couple weeks.

Flyingifr

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Re: debtors exam
« Reply #12 on: November 17, 2007 03:20:34 PM »
Besides I am going to move again in couple weeks.

That's the best reason to answer it now. Remember what I said - what is accurate when you answer a Debtor's Exam on Tuesday can be made worthless on Wednesday.
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.

Morality of Debt? No one ever went to the Nether Regions for not paying a debt.

Founder of the Credit Terrorist Training Camp (Debtorboards)

mro234930321

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Re: debtors exam
« Reply #13 on: November 17, 2007 03:55:40 PM »
That's the best reason to answer it now. Remember what I said - what is accurate when you answer a Debtor's Exam on Tuesday can be made worthless on Wednesday.

Since I am moving I will go ahead and answer it. You are right

 

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