Q: I have a judgment against me for 8,000 in FL (from 12 years ago) and am currently residing in NY.
I have a judgment against me for approx $8,000 in FL (from 12 years ago) and am currently residing in White Plains, NY. I cannot pay this debt right now in any way, not even a minimum payment. Can the debtor come after my vehicle (worth approximately 5k) if it's registered under BOTH my name and my wife's name?
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A:
In New York, a creditor with a judgment against you can potentially seek to enforce that judgment by going after your assets, including a vehicle. However, the fact that the vehicle is registered under both your and your wife's names complicates the matter. Generally, if the asset is owned jointly with a spouse, it may offer some level of protection against creditors, but this is not absolute.
The laws governing debt collection and asset seizure can vary, and there are specific exemptions and protections in place. For instance, in New York, there are exemption limits for personal property which may apply to your vehicle.
Given the complexity of your situation, including the fact that the judgment is from Florida and you are now residing in New York, it would be prudent to seek legal advice. A lawyer can provide guidance on how the judgment can be enforced in your current state and what steps you can take to protect your assets. They can also advise you on whether the age of the judgment (12 years) affects its enforceability.
Remember, taking early action and getting informed about your rights and options is crucial in dealing with such financial matters.
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