The DebtClear Roadmap

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Asset Protection

If I get sued, how can I stop them from garnishing my wages or bank account?
It stands to reason that if a creditor doesn't know where you work then they can't garnish your wages. Most creditors find this out from your credit report. Check out the section on Credit Repair to learn how to update or delete the personal information on your credit report.
How do I protect my assets?
Read the section on Asset Protection or contact our Asset Protection partner to learn more about your options.
What if I am in a state that does not have homestead protection?
Then you can't file for homestead protection. However, an unsecured judgment creditor can only put a lien on your property; they cannot force you to sell your home. If you don't sell your home the lien will expire when the judgment expires. If you sell your home before the judgment expires, you will likely have to satisfy the lien before you sell the property.
If I loose a judgment how can I protect myself?
If you wait until a judgment is entered against you it may be too late to protect yourself because of fraudulent conveyance laws. However, just because a creditor has a judgment against you i/a>. However, just because a creditor has a judgment against you it doesn't necessarily mean they will be able to easily enforce the judgment. In fact, over 80% of creditor judgments go uncollected!
My only income is social security and disability. If I am sued can those forms of income be garnished?
Most likely not. Check with your state's income exemptions to be sure. Just search the internet for "yourstate wage garnishment exemptions".
At what point in the DebtClear Roadmap should I begin protecting my assets?
When it comes to asset protection there is no time like the present. However, you need to be aware of fraudulent conveyance laws that limit the timeframe and manner in which you can protect assets. To learn more about your options consult with an asset protection specialist.
What if I don't have any assets to protect?
If you have an instate bank account and/or are a W2 employee, you are still at risk for collections.
I heard that judgments can be renewed. Is this true?
In some states judgments can be renewed. Consult our table showing how long judgments are enforceable, the allowed interest rate and whether they can be renewed. Verify this information with your state's Attorney Generals Office.
If my employer is served with papers to garnish my wages is there anything I can do?
No, your employer is legally bound to garnish your wages once they are served with a writ of garnishment by the court. However, if your wages are already being garnished by one creditor, they cannot be garnished at the same time by another.