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Those pension checks will leave a paper trail, like most any financial transaction. Refer him back to his lawyer, and let the lawyer recommend something.
If there's an actual judgment against him and an order to garnish his pension, that will go straight to the company paying the pension and he'll get a check with the garnishments already deducted. No choice.
I'm not even sure if other creditors (those without a judgment and garnishment order) can just access your checking account and raid it. Does anyone else know?
If there's an actual judgment against him and an order to garnish his pension, that will go straight to the company paying the pension and he'll get a check with the garnishments already deducted. No choice.
There might be some special rules regarding garnishment of pensions (specifically pensions). I recall after OJ Simpson won the criminal case against him for murder, the family of Ronald Goldman sued for wrongful death and won. They were able to go after OJ Simpson's assets, but specifically could not collect against his NFL pension. My recollection was pension payments were specifically exempt by law from being garnished for civil judgments (an IRS judgment would be very different, of course).
I don't recall any of the particulars, and of course that was a long time ago so my recollection of the reasons might be flawed, but I'm pretty certain OJ's NFL pension was exempt.
I'm not comfortable with doing it, but also do not know if there are legal ramifications, or will the Creditors follow the money and start hounding me ?
Without knowing any detail it's impossible to say. I'd doubt creditors could come to you for money, but you may be committing a crime... even a felony.
If you are successful in cashing the check for him, then obviously, cashing the check is not illegal
Banks have laws they abide by and will not break the law for you.
But how would the bank know? Maybe if you walked up to a teller and said, "My friend has endorsed this over to me so I can cash it and he can avoid creditors attaching his bank account", they wouldn't cash it. I doubt they do much verification, though, other than to make sure you have enough funds in your account to cover it in case the check bounces or the endorsement is a forgery, and that you supply proper ID.
If you are successful in cashing the check for him, then obviously, cashing the check is not illegal
Banks have laws they abide by and will not break the law for you.
That is your answer
Now the reason he wants to cash it, those are his reasons so will not address that.
The bank may cash the check but the OP could be opening himself up to liability for aiding and abetting fraud by helping the friend hide money from creditors. There will be a record of where the check gets cashed if the authorities go poking around.
As a general matter, there are plenty of fraudulent checks that get past the banks' screening processes and are cashed so that fact that a check is cashed is no assurance that the transaction is legal.
As long as you get a 10% cut, I see not reason why not to do it. There is nothing illegal about it. He is claiming the money for taxes, he has to.
Quote:
Originally Posted by hikernut
Without knowing any detail it's impossible to say. I'd doubt creditors could come to you for money, but you may be committing a crime... even a felony.
How is cashing a legitimate check for someone a crime?
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