Using Exempt Plans to avoid judgments
Exempt Plans are indicative of a very sophisticated, some might say desperate, debtor. Some things are beyond the court judgment’s reach. These exempt plans include profit sharing and retirement planning. Sometimes people will invest in these plans specifically because they believe that someone may be after their assets and the court cannot touch these plans.
When dealing with a debtor that is sophisticated enough to bury and hide assets beyond the reach of the court systems when using vehicles like exempt plans, it is imperative that you have either a very seasoned debt collection agency, like Commercial-Receivers, by your side. Or escalate the collection matter to an attorney that specializes in debt collections. These are called Creditors Rights Attorneys, as they represent the interests of the creditor.
Commercial Recievers, Inc . has developed internal procedures to make the transition of debt collection from our agency, to a debt collection attorney seamless, with no loss of data or account history that might otherwise damage your case. We maintain exceptional relationships with creditors rights attorneys around the country.
Owed money by another business? Call (804) 346-0302 ext. 222 or see our rates.