Why Do You Have to Reveal Spouse’s Information on Fact Information Sheet?

A common question I receive from judgment debtor clients is why they are asked to disclose their spouse’s financial information to their judgment creditor. This disclosure is typically requested through a standard fact information sheet provided in Florida statutes, but sometimes spousal information is requested through a Request for Production, a set of Interrogatories, or …

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State Where Collection Takes Place Governs Collection Law and Procedure

A civil judgment rendered in one state is enforceable in any other state under the concept of “full faith and credit.” The U.S. Constitution provides that each state must give full faith and credit to a civil order issued in another state’s court. For example, a money judgment issued in a Georgia court can be …

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What Happens to Community Property Rights When You Become a Florida Resident?

A client, a married man, acquired and owned a LLC membership interest in his own name while living in Texas. He and his wife moved to Florida. A Texas court entered a money judgment against the wife only, and the creditor moved the judgment to Florida. Texas is a community property state; Florida is not …

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Federal Agency Judgment Results in Blanket Trust on All Debtor Assets

Federal agencies are the strongest creditors and are the most likely to overcome asset protection planning. Court decisions involving federal agency collection frequently favor the creditor agency. An example is an unpublished order involving one of my clients who had been sued by the Federal Trade Commission for conducting illegal telemarketing. The telemarketing activity was …

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Options To Enforce Foreign State Judgments in Florida

Most creditors understand that if they obtain a money judgment in a state other than Florida the creditor can transfer the judgment to Florida in order to pursue the debtor’s Florida assets. Creditors are often uniformed about how long they have to collect the foreign judgment in Florida. The question is: what is the statute …

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Discovery of Personal Financial Information During Lawsuit

Parties involved in litigation some times request financial information about the opposing parties. The requests may be expressed broadly to include proprietary or personal financials. My clients have often asked whether they can be compelled to reveal financial information to opposing parties. The answer depends upon the nature of litigation. Prior to judgment, the scope …

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SEC Disgorgement Order Enforceable Against Exempt Assets

The U.S. Securities and Exchange Commission may impose equitable remedies to recover money earned through illegal insider trading and other violations of federal seccurities laws. The SEC’s equitable remedies include “disgorgement” of all money obtained illegally. A federal court may order the defendant to pay back illegally obtained funds or to post a bond secured …

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Limitations Period Applicable Domesticated Foreign State Judgments

One of my clients had a judgment issued against him in 2009 in a Georgia civil case. The client retired and moved to Florida in 2016. Upon discovering my client changed residence to Florida move the creditor domesticated the Georgia judgment in Florida in 2016. Georgia law provides that Georgia judgments expire in no longer …

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Should You Fill Out a Financial Affidavit After a Car Accident?

Sometimes clients ask me whether they should fill out a financial affidavit after the injured person in a car accident requests the affidavit from the insurance company. This situation typically comes up when the client’s insurance company makes a settlement offer to the injured person, but the injured person (and their attorney) wants the financial …

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