How the rich make themselves judgment proof!

[spearmint]

Interesting comment about the ability to open an account at a Canadian bank. I might just do that so no garnishment or freeze can take my funds (before I file BK)

[HHM]

There is still the issue of fraudulent conveyance. If you literally open the account with the intent to hinder, delary, or defraud your creditors, you can still have huge problems. FYI.

[GoingDown]

Ah, but proving a person's intent at the time they opened such an account would be nearly impossible. And how would the creditor ever even know in the first place? They simply don't have the resources to pour over every minute detail for every charged off debtor trying to find such a thing.

[GoingDown]

Ah, but proving a person's intent at the time they opened such an account would be nearly impossible. And how would the creditor ever even know in the first place? They simply don't have the resources to pour over every minute detail for every charged off debtor trying to find such a thing.

What a scoundrel!

[HHM]

Ah, but proving a person's intent at the time they opened such an account would be nearly impossible. And how would the creditor ever even know in the first place? They simply don't have the resources to pour over every minute detail for every charged off debtor trying to find such a thing.

In the bankruptcy context, it would be more easily discoverable, so in that arena, having a Canadian bank account could create fraudulent conveyance issues.