Legal Question in Credit and Debt Law in Florida

Re: Voluntary repossion, can they touch monies that I just recieved?

The ultimate answer will not preclude the leasing companies from commencing suit against you. What is important is, who signed the lease and the nature of the insurance proceeds you anticipate receiving.

As indicated in the prior reply, you do have serious question that justifies a consultation with a competent creditors' rights specialist. It is simple to put the funds into another's name, but it may be a bit more difficult to prevent a creditor from attacking the transfer.

Re: Voluntary repossion, can they touch monies that I just recieved?

If the leasing companies incurred any losses as a result of your "voluntary repossession" by turning the vehicles in early, they can seek to recoup any losses from you. Before they can touch any of your assets including the monies in question, they would have to institute a legal action in the appropriate court of law. If they obtained a money judgment, they could then seek to garnish or take any monies or other assets which you may have by seeking a writ of garnishment or attachment (whichever would be appropriate).

To properly protect yourself, you may wish to place your monies in an account in the name of a child or other trusted relative.

This is a serious legal question and you should seek the assistance of a qualified attorney who can answer particular questions and advise you on how to protect your assets from creditors.

Scott R. Jay, Esq., 305-249-8000