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I'm considering opening a checking account with my financial aid money from school. However, I have a few thousand dollar judgement against me, and I don't want them coming after the money in my new checking account. Even though I will be depositing a few thousand in the new bank account, I need it to live on for the next 5 months. I'm really not trying to evade the judgement, or hide my assets, just go to school. I do plan on paying the judgement eventually.

My only other assets are a used vehicle which kelly blue book lists at $4500 for private sale value.

I'm trying to find the exact guidelines which will ensure my checking account is collection proof, but I've had no luck locating such information online.

Any Indiana law gurus out there that could help me out would be greatly appreciated!

Thanks for reading!

2007-08-19 08:41:27 · 2 answers · asked by Scared Debtor 1 in Business & Finance Personal Finance

* Additional Detail *

I know that there are dollar limit amounts of like $4000 or $6000 that are untouchable no matter what. I found some websites listing explicit law for certain states, but not for Indiana. I'm looking for EXACT LAW INFORMATION for INDIANA ONLY.

Thanks again

2007-08-19 10:37:07 · update #1

2 answers

If you open a bank account, they can take it. Social Security or disability payments are about the only judgment proof income.

They might not find your checking account if it isn't interest bearing. But any bank account that pays interest will definitely be attached.

2007-08-19 09:04:34 · answer #1 · answered by bdancer222 7 · 1 0

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2016-10-16 03:42:12 · answer #2 · answered by Anonymous · 0 0

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