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IRA and 401k are exempt from a creditor's claims
similarly would be social security
If the debt arose during marriage, the creditor can look to assets otherwise in your name and spouse name
so signing a house over to her would not be sufficient
you would need to engage local estates lawyer to consider further protections
such as an irrevocable trust
and consider working out a settlement which would be conditioned on no further enforcement attempts
I don't understand - are you saying I would make some other kind of arrangement to pay the bank and original owner?
Also, I don't really have any other assets - the house is it
if you dispute the debt, you should not make an arrangement
if you do not, you may want to work out a settlement
the house is at risk absent settlement, if the creditor gets a judgment
to protect it, an irrevocable trust is one option, and settlement is another
if the creditor has a payment plan for example, it cannot pursue the house
well, I dispute the debt, but that was settled in court, so I assume there is nothing I can do about that
thanks for your help
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