Q: Judgements and Levy
I have a judgement against me via credit card. suit.
I cannot pay and on unemployment, they are threatening levy.
I am aware of the 4,000 exempt for property.. However, My car is worth 9,050.00 and owe only 4,000. With this said, I will apply 2,400 for autos exemption thus still will have 2,500 which I need to apply out of the 4,000 wild card.
This leaves with only 1,500....I will lose many basic necessities, including Beds, Appliances, nursery, kids dresser.. etc....
What is the likely hood they will come and take these things away...I have a family of 5 with another on the way in November.
Can the creditor put a lien on the home instead of taking property in a home? I need my car.. we only have one... Also, and this is the biggest question I have... if the lawsuit is in my name only... can they take property in the home that is my spouse's also? will I be able to double the 4,000 exemption?
Thanks again and hope to speak with you soon
A: I've never heard of a creditor in a credit card case trying to take any personal property to satisfy the debt. They are mostly interested in money -- whatever they can find in bank accounts or by garnishing the wages of somebody with a job. They might put a lien against real estate you own, but if the property is mortgaged, they are unlikely to attempt to execute the lien, especially if you have no equity, which is unfortunately the case for so many consumers right now.
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