When dealing with a collection agency it is best to know how they are going to attack you. Even if your assets are as protected as could be, you should never take any chances. Most agencies do things the same ways and this article will help you look out for common scare tactics.

To start out with, collection agencies only come in when a judgment has been passed and you have been ordered to pay a certain amount but claim you cannot. They will look for your assets and try to get you to turn them over, so be careful. The following is a list of methods they can and have been known to use:

• First and foremost they will look through records that are open to the public to find things that belong to you. Anything that has monetary value, a car or a house, can be used as a payment. Be very sure everything you own is protected in some way or they will take it!
• If they find something that can be used as a payment, they will then take the matter to a judge who will most likely award the found assets to the party who deserves it, according to court.
• If you do not own enough assets to pay off the whole debt, you may be lucky enough to get a debt settlement which will reduce your total amount owed. All the more reason to keep your expensive assets off the books.
• If they find nothing, but know you own something, the collection agencies may start to use unscrupulous methods to finding out about your asset locations. Bear in mind that you can have a lawyer present at all times and that they cannot force you to tell them anything.
• If you were smart, all your assets will be protected offshore by smoke and mirrors that these bottom-of-their-class law students will never find.
• If you have all your assets protected offshore, you are pretty much free of any concerns. They cannot touch assets in Panama unless you personally tell them it is there. And even then they would have a tough time convincing Panama officials to hand it over!

The main point behind this is that your assets are best protected when no one knows about them. The easier they are to find, the easier they will be found by collection agencies. Keep your assets safe from judgment and keep them offshore!