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Ray
Ray, Lawyer
Category: Legal
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Experience:  29 years in civil, probate, real estate, elder law
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Lets try this again...please re-read. In 2005 I was involved

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Let's try this again...please re-read. In 2005 I was involved in an accident; at the time I had a new business with about $50k worth of business lines of credit, business cards and such. I did everything I could to save the business but my injuries were too severe. About 2 years in a bank got a judgment against me b/c I didn't 'answer'. They froze my bank accounts, I was able to prove that my funds were all exempt; I was on disability receiving $845/mo. and that was it; the freeze was lifted. Fast forward to today & 2 years later, I just received a “restraining notice with information subpoena to judgment debtor together with a questions and answers in connection with information subpoena”, with 7 days to complete. What is this document, why are they sending it, and is it important that I complete it to the best of my knowledge and send it back ASAP? Let me just say that I am still on disability, unemployed, and receiving only $845/mo. Nothing at all has changed.
Submitted: 4 years ago.
Category: Legal
Expert:  Ray replied 4 years ago.
Thanks for your question.By law they can seek discovery here.They have the right to get information.If you have nothing that isn't exempt then it ends here.So you need to answer here and then be done with it.But until you file bankruptcy to discharge they can continue to try and collect.You will need to respond here and to consider bankruptcy if you want this matter to end long term here.Please ask any questions that you may here as follow up..

Edited by RayAnswers on 2/1/2010 at 12:31 AM EST
Customer: replied 4 years ago.
Thanks... I just had some questions on the document itself. First off, do I have to give them all this information, (all phone, all bank accts...etc.) they probably already know it or can get it so is it in my best interest that I give them all this and accurate as possible, some of these items are going to change or are in the process of changing, what do I do with those items? One question asks this... ‘have you any judgments in your favor? What does that mean? Is it a situation where I got a judgment against me and it was either vacated or dismissed or settled, something like that? I just have the one.
Expert:  Ray replied 4 years ago.
Yes you have to disclose here--they really want you to ignore this so they can seek to have you jailed and fined here for contempt.It is a harassment tactic.Give then the best that you can here--everyone realizes its an estimate and fluid here.

have you any judgments in your favor?Answer no.They are asking if you are holding any judgments where you tried to recover, it is a potential asset.Again they are looking for something that isn't exempt here that they can try to force you to liquidate.

As long as you timely and honestly give your best answers here they can't do anything to you.
Expert:  Ray replied 4 years ago.
NY exemptions by law..

ASSET

EXEMPTION DESCRIPTION

LAW SECTION

Homestead

Real property including co-op, condo or mobile home, to $10,000

Husband & wife may double

5206(a)

In re Pearl, 723 F.2d 193 (2nd Cir. 1983)

Personal Property

Bible; schoolbooks; books to $50; pictures; clothing; church pew or seat; stoves with fuel to last 60 days; sewing machine; domestic animal with food to last 60 days, to $450; food to last 60 days; furniture; refrigerator; TV; radio; wedding ring; watch to $35; crockery, cooking utensils and tableware needed, to $5000 total (with farm machinery, etc.)

Burial plot, without structure to ¼ acre

Cash, the lesser of either $2500, or an amount that, with annuity, totals $5000; in lieu of homestead

Health aids, including animals with food

Lost earnings recoveries needed for support

Motor vehicle to $2400

Personal injury recoveries to $7500 (not to include pain and suffering)

Security deposits to landlord, utility company

Trust fund principal, to 90% of income

Wrongful death recoveries for person you depended on, needed for support

 

 

5205(1)-(6), Debtor & Creditor 283(1)

5206(f)

Debtor & Creditor 283(2)

5205(h)

Debtor & Creditor 282(3)(iv)

Debtor & Creditor 282(1)

Debtor & Creditor 282(3)(iii)

5205(g)

5205(c), (d)

Debtor & Creditor 282(3)(ii)

Insurance

Annuity contract benefits due or prospectively due the debtor, who paid for the contract; if purchased within 6 months prior & not tax-deferred, only $5000

Disability or illness benefits to $400 per month

Life insurance proceeds left at death with the insurance company pursuant to agreement, if clause prohibits proceeds from being used to pay beneficiarys’ creditors

Life insurance proceeds and avails if the person effecting the policy is the spouse of the insured

Insurance 3212(d), Debtor & Creditor 283(1)

Insurance 3212(c)

Estates, Powers & Trusts7-1.5(a)(2)

Insurance 321(b)(2)

Miscellaneous

Alimony, child support needed for support

Property of business partnership

Debtor & Creditor 282(2)(d)

Partnership 51

Pensions

ERISA-qualified benefits needed for support, includes IRAs

IRAs needed for support

Keoghs needed for support

Public retirement benefits

State employees

Village police officers

Debtor & Creditor 282(2)(e), 5205(c)

Debtor & Creditor 282(2)(e), 5205(c)

Debtor & Creditor 282(2)(e), 5205(c)

Insurance 4607

Retirement & Social Security 110

Unconsolidated 5711-o

Public Benefits

Aid to blind, aged, disabled, AFDC

Crime victims’ compensation

Home relief, local public assistance

Social security

Unemployment compensation

Veterans’ benefits

Workers’ compensation

Debtor &Creditor 282(2)(c)

Debtor & Creditor 282(3)(i)

Debtor & Creditor 282(2)(a)

Debtor & Creditor 282(2)(a)

Debtor & Creditor 282(2)(a)

Debtor & Creditor 282(2)(b)

Debtor & Creditor 282(2)(c)

Tools of Trade

Farm machinery, team, food for 60 days, professional furniture, books & instruments to $600 total

Uniforms, medal, equipments,. Emblem, horse, arms and sword of military member

5205(b)

5205(e)

Wages

90% of earnings from milk sales to milk dealers

90% of earned but unpaid wages received within 60 days prior (100% for a few militia members)

5205(f)

5205(d), (e)

Customer: replied 4 years ago.
One of the last questions asks me, "what kind of payment arrangements can you provide at this time?" I have no ability to repay this company, I'm not saying I never will (...and that's a whole other question which I'll get to..), but I just cannot at this time. What happens now, does this company keep hounding me for the rest of my life about this debt? The last woman lawyer who I worked with at justanswer told me that it sounds like you might get this judgment vacated if you appear in court and explain you were injured and such and she said that oftentimes you appear and the bank/or whatever doesn't and you could win by default. What's your comment on that? And, what would you suggest I do at this point in time regarding this issue that would ultimately give me the best outcome?
Expert:  Ray replied 4 years ago.
I don't think that you can attack judgment at this point, it's been too long.And they may periodically try to collect every year or two.Eventually they realize that ther is nothing there.And you would answer no ability to pay here.Only income is ss or ssdi or ssi deoending on what you are getting.

Bankruptcy is a possibility if you have any other debts you need to discharge as well.
Customer: replied 4 years ago.
Now the big question... Only 1 more post after this. None of my creditors (not sure if I should refer to them as that?) know about the lawsuit filed against the other driver. They might assume that that could be the case and so they are just waiting until I start working again, get some settlement monies, claim bankruptcy, or pay them in some way. There is a lawsuit, the outcome it unknown, but my thought is that if I do get some money I can negotiate with them, or if I don't or it's too small an award, maybe bankruptcy is my only choice. My PI lawyer told me that if you win, this money is tax free, and for all intent and purposes, nobody will know that you have it. My lawyer knows about all my creditors and he said there's nothing you can do now, your credit was ruined a long time ago, but be careful not to let this banks know there is a possible settlement if you contact them; but he said right now, ‘do not contact them in any way'.
Expert:  Ray replied 4 years ago.
They may well already know about it here.If they ask about lawsuits her you need to be honest and tell them about it.It may be exempt here anyway if it is for personal injuries here..And you are right if you get money from settlement and check clears get it out of bank before they levy on it.Lying here would constitute fraud here and not a good idea.
Customer: replied 4 years ago.

I would never put anything sizable into my accounts. I found out how much I can have and what is exempt. I spent a lot of time trying to get my bank accts. unfrozen, if I got a check and it came from a bank where I had an account, most likely I could cash it without running it through my accounts; it still concerns me. Since I was so ill and on so much medication, the other lawyer I consulted thought I had a good excuse to go to court and get it vacated, she said the other side would most likely not show and I'd get it by default?? I am disabled and will always be to some extent, I suffered a brain injury in this accident and I'll never be quite right again. The majority of my other injuries are mostly orthopedic; back and neck. Are you familiar with these Special Needs Trusts? You made me think of one more... I answered this question like this... Do you have any other judgment against you? I said, "this in my only judgment, I am fully disabled, unemployed, and have proven my funds are exempt"... Should I just say No? Or is that answer okay? Actually it is quite amazing that out of all the questions they ask, they do not ask specifically about a settlement? That's it, thanks so much.

Expert:  Ray replied 4 years ago.
If this is in a special needs trust they can't touch it.This would be the preferred location to have any settlement go straight there.This allows you to maintain your medicaid eligibility and social security disability.Disclose it here because they could not touch such a trust here..
Customer: replied 4 years ago.
I don't have a trust set up now so I can't disclose it in this coorespondance... Is there anything I should put in place of that, or should I make refernce to a future trust? is it okay how I answered that last question? Is there a way to print this entire thread? Thanks again.
Expert:  Ray replied 4 years ago.
You would want any settlement proceeds to be placed in such a trust directly here.You r lawyer would do so both to maintain your eligibility and to shield it from creditors.If you will just copy here--highlight it and then look under edit and copy then you can paste it on your own word document.

You should also be bale to print this look on your left under file and go down to print on left hand column.I am not sure if you have the same screens I do but one way or another you can certainly print it.

I work with special needs trusts extensively so if you have questions down the road just post for me .A special needs trust ordered by the court will also keep medicaid from seeking recovery for funds they have paid on your behalf.Another reason to set one up here and put funds in it.Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 30149
Experience: 29 years in civil, probate, real estate, elder law
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Ray
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29 years in civil, probate, real estate, elder law