I would like to clear the decks without taking on an additional loan due to past money mis-management and lack of financial control. Have an enormous pension fund as 'future' collateral so looking for creative and legal solutions. Suspect I need a hybrid of a debt lawyer and a pension/mortgage specialist. Additionally my partner in the US (Houston) is looking for an investment fund to secure her home - would it be possible for my pension fund to both provide that guarantee and be used as a growth investment at the same time? Suggestions and ideas please? Does such a talent exist?
2007-07-25 11:32:40 · 3 answers · asked by Graham B 1 in Business & Finance ➔ Personal Finance
I don't think you can use your pension as collateral because it is exempt from siezure...the point of collateral or a guarantee is that they can sieze the asset if you fail to pay.
2007-07-25 11:48:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You cannot pledge a pension fund as collateral.
2007-07-25 12:20:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Until you are eligible to begin DRAWING the pension, YOU don't have ANYTHING in the pension fund. Whatever assets you employer has to cover EXPECTED pension liabilities ARE NOT YOURS.
2007-07-25 12:39:41 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋