Forums
Hi,
I have been recently ordered to pay a judgment to a credit card company for defaulting on my payments. When I am asked to declare my assets, must I report my son's personal belongings as if they were my own, as he is dependent on me? Are his belongings in danger of being seized? He however purchases things and pays for them with his own money. Are gifts that I have given him in danger? Gifts that were given to him by others? I do not wish for my son to be forced to give up his property to pay a judgment against me.
I think that you need to ask an attorney these questions. Not a forum.
Advice
Assets normally means vehicles, property, & liquid assets (bank accounts, etc). I don't think they mean your TV or couch. Basically they want to know what can be sold for them to recover, they wont bother going through the trouble of selling things not worth over 1k. Best bet, ask a lawyer or call the court (if the request is from the court).