The garnishment of a bank account may occur when a debt is owed and when the agency or company receives a judgment against the debtor. This article will cite certain particulars about a bank account garnishment and how banking privacy and bank secrecy have been utilized by privacy seekers. The author encourages all readers to follow the laws in their jurisdiction.
The principles outlined herein are examples used by certain personal privacy advocates. Individuals and businesses are encouraged to consult appropriate professionals for legal questions pertaining to financial privacy and bank account garnishment. This author does not provide legal, accounting or tax advice.
Financial Privacy for investments
Bank secrecy and financial privacy can be accomplished through the use of a Nevada Limited partnership. Asset protection and privacy have been accomplished by holding liquid assets in a Nevada limited partnership while using an anonymous company as the General partner. Limited partners have owned 99% of the partnership with the remaining 1% owned by the general partner.
At last check, a Nevada limited partnership had never been pierced in a Supreme Court case for the purpose of satisfying the debt of an individual who was a limited partner of the partnership.
Offshore asset protection trusts formed in asset protection friendly jurisdictions have been used to own the partnership. This additional entity provides an extra layer of asset protection.
Debit Card Online Bank Accounts
Can one receive garnishment help? In certain cases, yes. Consult an attorney when you have questions about garnishment law.
Certain financial institutions provide a pre paid debit card that has bank account features. The account is available to individuals to open without a Social Security number in some cases. A corporate bank account holding many individuals’ bank accounts with each account’s value segregated is the banking structure for some of these debit card accounts. These accounts are accessible as online bank accounts by the individual holding the account.
A high degree of bank secrecy may be accomplished with the online debit card account when it is opened properly and managed correctly.
This type of account features a bank routing number and an account number, and the account holder benefits include the ability to receive ACH transfers, online debits and credits, and cash deposits may be made to the account. Cash withdrawals may be made worldwide from automatic teller machines.
Look for my new e-book that will soon be available for purchase and download. Bank Secrecy will be available at www.PrivacyCrisis.com. Details and resources for financial privacy and bank secrecy are included in the book.