Expert: Ontrack Financial Group llc - 6/12/2009

Question
QUESTION: I live in upstate NY & am currently paying monthly on judgement.  I recd another judgement which is now in line for when I finish paying off the first one.  I have had my bank account in another person's name for the past year but they are unable to continue.  I heard there may be a claim exemption form that I could complete to keep an account in my name from being frozen by another creditor.  Is this true?  by the way - i am working with a debt counseling service to pay off the credit cards.  thanks

ANSWER: Kady,

Hello Neighbor, we're in WNY! Thank you for your question.

State and federal laws prevent certain money or property from being taken to satisfy judgments or orders. Such money or
property is said to be "exempt". The following is a partial list of money which may be exempt:

1. Supplemental security income (SSI);
3. Public Assistance (Welfare);
5. Unemployment benefits;
7. Workers' Compensation benefits;
9. Veterans Benefits;
2. Social Security;
4. Spousal support, maintenance (alimony) or child support;
6. Disability Benefits;
8. Public or private pensions;
10. Ninety percent of your wages or salary eamed in the last
sixty days;

What debt counseling service are you working with?

Ontrack Financial Group llc

---------- FOLLOW-UP ----------

QUESTION: I'm using SDS West.  I really didn't think they (the creditors) could take or freeze my account if I was already paying on a judgement.  Is there a form that I can fill out at the bank indicating this?

Answer
Kady,


Thank you for your question.

There isn't an exemption form.  

SDS West should be advising you on this matter.  If you decide your situation need more attention than what you're receiving from SDS West contact us.   

SDS West has a bbb rating of an F

http://www.la.bbb.org/BusinessReport.aspx?CompanyID=100012961  

Please contact us at www.OntrackFinancial.Com

888-686-6834

Sincerely Yours

Ontrack Financial Group llc