lotto

[junker]

since my investment strategy for my golden years retirement is to invest in lotto tickets instead of ira,s or 401,s it made me wonder WHEN i hit the big one, if states will check credit reports before issuing the big check, to see if there are judgements or liens and force them to be paid before me, as they do when a house is sold?

[AngelinaCat]

PLEASE tell me you are kidding about this 'investment strategy'. If you are SERIOUS about this please read this....

http://www.associatedcontent.com/article/70165/winning_the_lottery_curse_or_a_blessing.html?cat=47

IMHO the TRUE lottery winners are those who do NOT play.

[junker]

Cat, yes i am kidding but was curious as to judgements being satisfied, but i can promise you that article wont apply to me, i will be VERY happy and content when i WIN the big one. if i am happy being poor i can certainly be happy being rich.

[AngelinaCat]

Thank you.... I feel much better now!

It is my understanding that if you have judgments against you, then the creditor(s) can levy against any income, be it earnings or winnings. They have the burden of pursuing all the court filings and fees involved in trying to recover anything. I don't believe the state lottery commissions will do that kind of credit checking. I could be wrong about that. Perhaps there is a member that works for one of the commissions that can answer better.

[treehugger1]

You could bet that if you have a tax lien, "someone" will probably get that if the lotto is in your state.

Hey, if you win, perhaps you throw a big party for all of us on the board.

[junker]

absolutely treehugger, big party for all, and to even show no hard feelings the ca,s that have caused me to seek therapy over the last 6 years are also invited. since i am past sol on just about everything now.

[hnhlvr]

If you win the lotto, you should pay off your debts!

[banca rotta]

If you win the lotto, you should pay off your debts!

I agree

[junker]

i thought i would get that response from the ca people

[momof5]

We kept hoping to win the lotto so we COULD pay our creditors. Would have been much easier than filing BK.
Large lottery winnings are always checked before being paid out. Things like unpaid taxes,judgements,child support are paid before the winner ever sees a penny.

Now I just sit and wait for the ex to win the lottery so he can pay something towards the children he helped to bring into the world but never helped take care of.

[hnhlvr]

Yep, I've been hoping to win Lotto to pay my creditors too. Take care of them, my house (that was walked away from), and then use the remaining money to buy a modest house and keep driving the same car so nobody ever knows! I wouldn't want to win a huge sum since there are too many obligations/issues with that and I'm sure $10 mil wouldn't make me happy. Two million (AFTER taxes) would be idea!