Q: How can i sign over awards from personal injury suit to my adult child to aviod debt collectors from taking my money ???
Im recieving letters from collection agencies regarding 20 yr old debt i wasnt even aware i owed
A:
Before you start thinking about how to manage your assets, talk to a local consumer lawyer about the debt in question. Very few types of debt will survive for twenty years, and the debt may well be uncollectable (and, thus, no threat to your assets). It's even possible, depending on the nature of the debt and the representations made by the collection agency, that you may have a claim against them if the debt is no longer legally viable.
*David Levin is the Partner in charge of UpRight Law's consumer rights litigation department. UpRight Law is a national law firm with licensed attorneys providing bankruptcy and consumer legal services in all 50 states. He is licensed in Illinois, Ohio and West Virginia, as well as several United States District Courts. He has 22 years of litigation experience, the last 18 of which have been focused on consumer rights litigation. This response is for informational purposes only and is not intended to be legal advice. For legal advice, consult an attorney licensed in your state with the appropriate expertise.
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