Legal Question in Credit and Debt Law in New York

Re: judgements

Why not spend your inheritance on yourself and family slowly, and then file bankruptcy to get rid of your debt.

You can engage in some "bankruptcy planning" to shield some of your inheritance, as long as you do not abuse the system.

Jacob Silver

New York Bankruptcy Attorney, Bankruptcy Lawyer in Brooklyn New York

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Jacob Silver

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Re: judgements

Why not accept their offer but tell them you want to begin payment in the month that you get the inheritance...without telling them why.

But be careful, the document that you sign will most likely give them a judgment against you for the full amount sued on if you fail to make the payment..so be certain your dates are correct.

Good Luck

RRG

Re: judgements

Attorneys think alike. I agreed to respond to your question and read Bob's answer...my idea exactly. Enter into an agreement to pay the reduced amount (try to get installment payments so you can pay it out over time (NO INTEREST!!!). You'll have your inheritence which can be safely placed in an account. As long as you pay on time, the judgment creditors cannot touch your funds JUST MAKE SURE ALL YOUR AGREEEMENTS ARE IN WRITING and you don't DEFAULT under them...KEEP GOOD RECORDS OF YOUR PAYMENTS...they may be able to tie up your account IF you default and don't cure the default within a stated period. YOU CAN NEGOTIATE with them for a long default period and make sure they have to contact you in writing when there is a default...