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Maverick
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 3431
Experience:  Bankruptcy Law With An Accounting Degree - 13 + years as civil lawyer
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I have a foreclosure judgement against me. Filed in Feb. My

Customer Question

I have a foreclosure judgement against me. Filed in Feb. My wife recently passed away and I have received a small death benefit. I need this to live on for awhile. If I open a new bank account in a different bank and turn this into cash have I broken a law and is it easy for this collection firm to find that new account? I'm sure I'll be in bancruptcy court before all is said and done. At the moment it's about survival for me. Am I obligated to give away everything I have at my own peril?
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 3 years ago.

Welcome to Just Answer! My name isXXXXX very much enjoy what I do and I hope that you will benefit from this information.

 

You have not necessarily broken the law unless you lied about when asked. If you received the death benefit after the foreclosure then you can open a new bank account at a different bank and deposit there. However, if the lender asks you about all the bank accounts that you have in your name and you fail to disclose the new one, then it could be considered fraud.

 

 

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Customer: replied 3 years ago.

I checked my Transunion. It's indicated as forclosure initiated.

 

At the time of my dealings with flagstar and the collection agency there was none of this. My wife passed away after all of this was put into play. I received this check last week. I was notified of the judgement on 2/2 she passed on 2/12. So no one has asked me anything and I have not volunteered anything extra. Fact is I have not told the bank or collection agency she passed on.

Expert:  Maverick replied 3 years ago.
For the most part, you have no duty to volunteer any information to them unless they ask you to do so in the context of formal discovery under a lawsuit.
Customer: replied 3 years ago.

Man If you're in Central Fla. I'd like you to be my attorney. I'll accept on your answer.

 

The judgement on the balance of a short sale will remain out there and I'll be in bancruptcy court before this is over. can they freeze my new account or easily find out about it. I owe my family so much and have to pay them. Thank you again Maveric.

Expert:  Maverick replied 3 years ago.
There is no easy way to find out about where your bank accounts are. Usually they find out through your income tax returns because of a 1099 interest form or by pulling your credit. They need your permission to pull your credit. The other way they find out is by deposing you in a lawsuit.
Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 3431
Experience: Bankruptcy Law With An Accounting Degree - 13 + years as civil lawyer
Maverick and 3 other Bankruptcy Law Specialists are ready to help you
Expert:  Maverick replied 3 years ago.
Also, if you file bankruptcy they could find out if you still have the money on hand as you would have to list your assets and debts on the BK schedules.

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