Q. My husband died with no belongings besides a 24-year-old excessive mileage automotive. I simply bought a life insurance coverage beneficiary verify for $10,000. If I deposit the verify into my checking account, can the New Jersey courts take the funds for an excellent judgement in opposition to me? I used to be hospitalized in October 2018 and with my husband so sick, I couldn’t pay one of many hospital payments not coated by insurance coverage. This life insurance coverage cash is all that I’ve to stay on. How can I shield it?
A. We’re sorry to listen to about your husband.
These are powerful occasions for therefore many individuals and we perceive why you wish to shield the funds.
Contact the unique creditor who has the judgment in opposition to you, stated Karra Kingston, a chapter legal professional in Union Metropolis.
“Ask them in the event that they would offer a letter of satisfaction or how one can work with them straight,” she stated.
If the creditor received’t drop the debt, a fee plan that you could afford could be the subsequent aim.
“If they’ve closed otherwise you can not discover their data, then it’s possible you’ll must go to court docket and attempt to reopen the case to take away the judgment,” Kingston stated.
This may be time consuming — all of the extra throughout the coronavirus pandemic, when courts are solely addressing emergent issues.
E-mail your inquiries to Ask@NJMoneyHelp.com.
Karin worth Mueller writes the Bamboozled column for NJ Advance Media and is the founding father of NJMoneyHelp.com. Observe NJMoneyHelp on Twitter @NJMoneyHelp. Discover NJMoneyHelp on Fb. Join NJMoneyHelp.com’s weekly e-newsletter.