Hidden 401(k) Accounts: How to Find Them
PROBLEM:
You suspect that the debtor has been contributing money to a 401(k) retirement account for years, and he doesn’t intend to share the funds with you.
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SOLUTION:
Unlike with pensions, married people are generally not legally…
Easy Come, Easy Go: Gambling Winnings
PROBLEM:
A debtor hit it big in a poker tournament and promptly squirreled away the prize money. Now, when the creditor asks about the winnings, the debtor’s response is, “Poker? Sure, I play for fun, but I’ve never won any real money…
No Surrender: Finding Secret Life Insurance Policies
PROBLEM:
You suspect that your spouse has secretly hidden money by purchasing a life insurance policy that he plans to cash in once the divorce is final.
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SOLUTION:
The first step is to look for any evidence of payments to insurance…
Pending Class Action Awards
PROBLEM:
The debtor doesn't have it yet, but is expecting a major payment when a class action suit settles and he comes into more than $100,000. However, he is not the lead plaintiff and his name doesn't appear anywhere you can see as it would…
Bonds: The Gift of Steady Income and Traceable Records
PROBLEM:
The debtor has no cash to his name and his real property is mortgaged. All of his wealth is tied up in bonds. Where to find them?
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SOLUTION:
The nice thing about bonds is that they generate income. Unlike a piece of real…
Hidden Treasure: Tracing Gold Assets
PROBLEM:
The debtor decides that instead of investing in stocks and bonds, he’s going to put his money into gold, and then takes pains to hide this investment from creditors.
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SOLUTION:
Gold investments come in various forms, including…
Cashing In: Tracking Down Hidden Cash Reserves
PROBLEM:
There is reason to suspect that the debtor has closed his financial accounts and transferred most of his assets to cash, minimizing his paper trail. Proving he's worth more than he says he is has become a major challenge.
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SOLUTION:
Anyone…
Jackpot! Finding Lottery Winnings
PROBLEM:
A debtor puts down $1 and wins $500,000 in the multi-state lottery. It was too little to make the evening news and have his picture taken but more than enough to justify serious efforts to go after.
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SOLUTIONS:
Lottery winnings…
