Saturday, October 24, 2009

If you got sued and lost, can they go after bank account?

I am not getting sued, but am very curious. If you had invested HARD EARNED money in banks, IRS, 401k, mutual funds basically put your money everywhere, what can the Sue-happy leaches come after?
Answers:
If you have substantial assets, put them in trust. It's a fairly simple process that many people overlook.
It varies by state what assets can be ceased when you are sued, but for the most part yes they can.
The short answer is yes. If it is hard earned then you should endevor not to get sued. Although it is a very lenghthy process to go after your bank accounts.
They can go after anything you have.
They can attach any assets except retirement accounts.
Umm..sue happy leeches don't normally win. You win when you have a valid case and claim.
And yes, they can attach acccounts, garnish your wages, garnish income tax returns, get an order of seizure and sale of homes and vehicles.

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