How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask wallstreetfighter Your Own Question
wallstreetfighter, Employment Lawyer
Category: Employment Law
Satisfied Customers: 17228
Experience:  14 years exp, General counsel for National Corp. firms, Hostos College instructor, Represented employees in discrimination lawsuits
Type Your Employment Law Question Here...
wallstreetfighter is online now
A new question is answered every 9 seconds

If I receive some temporary disability pay from a private,

This answer was rated:

If I receive some temporary disability pay from a private, individual disability policy is that treated any differently in a bankruptcy situation than social security disability pay? I cannot transfer the deed of my home without transferring it to my ex., which he would love. As he owned nothing when we married, and still lived with his parents, and I worked contributing significantly financially, it would not be fair. I did nothing to deserve this, and think I was set up in the divorce.

wallstreetfighter :

Hello and welcome. My name isXXXXX am a Licensed practicing attorney and my goal is to provide you with excellent service today.

wallstreetfighter :

Your disability would be protected in all forms,

wallstreetfighter :

you can transfer the deed to a trust or corporation unless your spouse is alos on the deed,

wallstreetfighter :

Typically if you do not pay a judgment the creditors will not lien your home, they will try to collect by garnishing paychecks,

wallstreetfighter :

or trying to freeze your accounts,

Customer: replied 3 years ago.

My ex. is on the deed, it was the third home we bought together, the first being five years into marriage, when I earned as much or a little more than he, and just before the first child was born. With consumer counseling and/or with debt resolution, if my financial circumstances then change, can the credit card companies then come after my wages?

yes, but they are limited in how much they can get typically they can onlt take a small percentage, from your check, once your employer receives the Wage Garnishment Court Order, they must begin sending 25% of your take home pay to your Judgment Creditor. Interest continues running on your debt and the garnishment is allowed to continue until the entire amount along with interest has been paid.
Customer: replied 3 years ago.

That is interesting, as I have received cold calls proposing these two options, and the people represent it as if you are somehow financially going to benefit be paying back less and getting out of debt sooner if you use consumer counseling or debt resolution. They represent it as if that would be final, and this is agreed upon as it is better for the creditors than if you file bankruptcy, but also better for me as I would be out of debt sooner. If they can then garnish my wages even after they receive the agreed upon amount in debt resolution or consumer counseling, then I am not really out of debt, and could wind up paying them back for years. Do the people offering these solutions commonly lie? They know my circumstances, regarding equity in a marital home with my ex. on the deed, but where I am supposed to get more than 50% the equity according to the divorce decree and considering the lien which really is money my ex. owes me? My ex. was quite cocky when he told me he would wind up in the home, with full custody, and me paying him, and I am sure my filing bankruptcy is one way for him to achieve that goal, which is why I am not surprised child support payments stopped, even though he makes a six figure salary and has no other minor child.

credit counseling is an option as well, at this point if you have significant equity, a bankruptcy will not help you, however credit counseling or not paying at all may be to your benefit.
wallstreetfighter and 2 other Employment Law Specialists are ready to help you