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Questions Answered by Mike T. Ramsey
1 Answer | Asked in Consumer Law for Arkansas on
Q: I had a credit card judgement placed on me in 2012 for $3.666 and am on ssi, the debt collector placed a lien on my home

Arkansas has a $2500 dollar homestead exemption, I live on 10 acres in an old trailer not worth any value

Mike T. Ramsey
Mike T. Ramsey
answered on Jan 6, 2022

If they took a judgment against you, the judgment acts as a lien against your property. You will not be able to sell the home without paying the lien off. There is a small possibility that they could exercise a sheriff's sale of the property but in my experience, that is unlikely with... Read more »

1 Answer | Asked in Bankruptcy, Contracts, Copyright and Collections for Colorado on
Q: What is the Statute of limitations in a auto-loan delinquency. The account was originally listed as “ “ “ charge off “

The account is now listed as closed, I never made any agreement/payment arrangements w/ creditor after the car was voluntarily repossessed.

Mike T. Ramsey
Mike T. Ramsey
answered on Jan 6, 2022

Statutes of limitations vary by state. For example in Mississippi, the statute of limitations on an auto loan deficiency is only one year. Under Colorado Revised Statute 13-80-103.5, the statute of limitations is 6 years. This runs from the date of the last payment. The fact that it is... Read more »

1 Answer | Asked in Bankruptcy for North Carolina on
Q: Can I claim federal exemptions in chapter 7 bankruptcy?

I have lived in Charlotte NC for 22 months and plan to file in western district of North Caroline. Prior to Charlotte I lived in Vermont for 40 years. Vermont doesn't allow non-residents to use their bankruptcy exemptions.

Mike T. Ramsey
Mike T. Ramsey
answered on Jan 6, 2022

I would recommend getting an attorney to help you with your bankruptcy. There are many good lawyers in North Carolina. To answer your questions, though, Vermont exemptions would be applicable under 11 USC 522. My research shows that Vermont does allow nonresidents to use their exemptions but it... Read more »

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