PROBLEM:
Your debtor is a fairly accomplished author and you’re pretty sure that he periodically receives royalties on some of his works, even though he tells you that he doesn’t earn any royalty income.
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SOLUTION:
As is often the case, your debtor’s tax returns are a great place to find evidence of an asset.
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 at it.”
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SOLUTIONS:
Like lottery winnings, which we wrote about here,
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 on other kinds of litigation.
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SOLUTION:
Among
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 gold certificates issued in the U.S. by gold pool programs, gold futures, gold miner exchange traded
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 are far from a lost cause. In any case of gambling