If my creditor obtains a judgment and I have my paycheck deposited into someone else's account, can that account be seized?
My home was foreclosed on last year. The second mortgage was used for an 80/20 loan (no down). The second mortgage can and probably will sue. The company I work for requires direct deposit and I have this deposited in a friends account which does not have my name on it. Can this account, and others belonging to my friend be frozen and or seized? I do not want to put this friend at risk for trying to help me.
Yes, you are potentially putting your friend at risk. If you sued and a judgment is obtained against you, the creditor can try to attach, or take, you assets. Your assets are things that you own, regardless of you have tried to put them in someone else's name; if they can identify where your money is (which they could from payroll records), they could try to freeze your friend's account or take money from it, in which case they may also end up taking some of his money if it's hard to identify who's is who's. Other risks:
* Friendships have broken up over money. If it's in your friend's account, he has access or control over it--is there any chance he may get greedy? Especially if he hits hard times?
* If your friend has debts or creditors, they may take your money in trying to recover from him.
* Commiting fraud by hiding assets owed to others could potentially expose you and/or your friend to criminal liability.
Your friend is to be commended for offering to help, but there are alot of risks to this course of action.