Protecting assets while settling a judgement.

[bruiseviolet]

Long story short, have an old judgement, that while it isn't showing on my credit reports, shows up as public record when the mortgage company pulled my credit.  I have to get it paid/settled/removed in order for them to approve my mortgage loan.  How can I best protect my assets while I try and settle with them?  So far I have been able to fly under their radar as I am self employed, have a different bank account and don't have any auto loans.  I know since the judgement they have tried to get information in court from companies I have done contract work for, so I know they are diligently trying to garnish wages from me.  How can I protect my bank account while I am in contact with them to settle the judgement and get it taken care of?  

[cashnocredit]

Don't to even do preliminary work with a mortgage broker. A hard credit pull flagged for a mortgage is a red flag and the creditor will get likely get more aggressive and a settlement will be harder.

 

Just approach them saying you would really like to settle the judgment but don't indicate you have much available money. Don't give them any info beyond that.

 

As for "protecting" assets. That's a legally questionable activity. And they could force you into a debtors examination and get answers as to what assets you have (or had and transferred) under penalty of perjury. But this costs them money so don't give them incentive to spend the money.

[legaleagle2012]

If your "other bank account" is in a corporation's name, it is much harder for them to get money from it if the judgment is against you personally. There is a limit to how much effort these people will put into this.