life insurace

by Tammy
(taylor Mi 48180)

If my wife had an life insurance I am the beneficiary. If i have a judgement againest me can they take this life insurance

Comments for life insurace

Click here to add your own comments

Feb 05, 2012
life insurance

Once the money has been deposited in your bank account, it's subject to being garnished, assuming the creditor with the judgment gets permission from the court to do so.

The only way to stop the garnishment is to file for bankruptcy; but taking that step only makes sense if you owe a lot of money and have no way of repaying it or if it will take you years to get out of debt. If you want to explore that option, I recommend that you schedule a free initial evaluation with a bankruptcy attorney. The attorney will review your finances to determine if bankruptcy is or isn't a good option for you. To learn about
bankruptcy, go here how to file for bankruptcy. A word of caution however! Do not try to handle your own bankruptcy. It's a very complicated process and to realize its benefits you really need to work with an attorney.

Click here to add your own comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2016 by Mary Reed and Gerri Detweiler.
All rights reserved.