Legal Question in Consumer Law in Georgia

Saveguarding Assets from Civil Judgement

I am not currently subject of any civil proceedings but it is possible that one may be coming.

I have no funds to apply towards representation against a large, deep pocket firm and I am looking for advice as to how to protect my only asset which is a 200k home which is paid for.

How should I proceed? Perhaps a bank loan for the value of the house with me making monthly payments to the bank, a sort of mortgage?


Asked on 9/19/06, 3:52 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Saveguarding Assets from Civil Judgement

What you indirectly propose to do is called a fraudulent transfer, and that likely will accomplish another claim against you. If you take out a loan, you will be expected to account for the money. If you tranfer the property, the transferee may be sued unless you receive and account for the full value of the property. The best course of action is obviously use some of your funds (which you have access to), to hire a lawyer and try to save the rest of it.

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Answered on 9/19/06, 4:23 pm


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