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Search took 0.00 seconds. Search: Posts Made By: jmschmidt
Forum: Dollars & Cents 09-07-2019, 09:49
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

Qualified retirement plan payments can not be garnished, ask O. J. Simpson, he has a $35 million judgment against him but he still gets his NFL pension.

Income that can NOT be garnished: TANF,...
Forum: Dollars & Cents 08-07-2019, 10:45
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

Nonsense, a summons can't be served to a Post Office box.
Forum: Dollars & Cents 08-07-2019, 10:43
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

The US Government sends Social Security checks to thousands of known criminals overseas and in prison. If you paid in to it, you get back.
Forum: Dollars & Cents 06-07-2019, 16:06
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

It is a hell of lot different from financing a car. Cars and small boats are financed under the title theory of law and USCG documented boats and ships are financed in the US under the lien theory...
Forum: Dollars & Cents 06-07-2019, 15:59
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

Go ahead, make my day.
Forum: Dollars & Cents 06-07-2019, 15:57
Replies: 79
Views: 16,579
Posted By jmschmidt
Re: What's to stop a borrower from taking their boat out the country and defaulting?

The answer...its call a "First Preferred Ship Mortgage" which is recorded at the National Maritime Center against a USCG documented, US flag vessel, to secure the loan. This is standard practice for...
Showing results 1 to 6 of 6

 
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