Friday, May 23, 2008

Where to keep money absolutely secure from judgements, collectors suits from court?

a saftey deposit box in a bank. They are not allowed to know what you keep in it and they dont have the key to get into it either. You can also invest in a safe that bolts to your floor. I am not sure about the canadian banks and its interactions with american judgements. If you are drawing interest on it, it will still report to your income statements so the IRS would be completely aware.

No place is safe from judgements or court suits. It might be best to keep your money in cash, but put it somewhere safe. I presume you aren't talking of thousands of dollars and cheating the government or something dire like that. I would be very careful about putting it in someone else's name, even your Mom's. If she passed away, you could have a heck of a time getting your money unless she made out a will, leaving it to you. Then, you're in the same boat with collectors that you are now.While you are saving your money, try to get that bill paid. Try to make a settlement, which would involve less money. You can ask for a court hearing to have the amount of the judgment lowered. You won't rest easily until it is paid and then you can make a fresh start.