More details to this question:
A business acquaintance of mine, was just issued a judgement against them recently, AFTER that they were informed that they will be receiving an annuity check that is going to be mailed directly to their house. (Not direct deposited). I am not related to them. They owe me money and are willing to pay me first and then their other creditors at a future date which as of now is undetermined. They are afraid to deposit it in their own account for fear it would be seized. They would like to pay me what they owe me with a number of these $2,100 checks coming each month, by signing them over to me and allowing them to be deposited directly into my bank account. (The officer at my bank says they will allow the deposit if they accompany me to the bank with proper i.d.) None of us know the answer to this question except hopfully you, which is: can their collectors come after me in any way? If yes - exactly how? And how would they know it’s been deposited into my account or would they?
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1 Award
In theory, what is being done is a fraudulent conveyance, and could be attacked, and a creditor could come after you. In reality, this almost never happens, so you should be fine doing your plan.
Answered on Aug 14th, 2016 at 3:51 PM