What can a creditor really take if a judgement is granted against me?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What can a creditor really take if a judgement is granted against me?
I received a motion to claim exempt property from the court? I have recieved this motion and don’t really know what I need to put on this.
Asked on September 8, 2011 under Bankruptcy Law, North Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Generally speaking, a creditor can look to execute on--or force the sale of, and take the proceeds of--most forms of tangible property, including vehicles. The creditor can also garnish, or take part of, a bank account; or garnish, or take part of, earnings; or put a lien on real estate, which would have to be paid before the real estate can be sold.
There are some forms of income exempt from garnishment, like social security earnings. There are also some types of property exempt from execution, which are generally the same types which are exempt in bankruptcy. You can try looking this up yourself, though it's complex--you are better off having an attorney help you. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.