rabbit

Execution of judgement

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I live in FL. I have been notified that a judgement is to be executed against me. Can someone tell me what property they can take from me on this unsecured (credit card) judgement,,,Many thanks...rabbit

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They usually just go ahead for the garnishment unless you can settle with them before the judgment is executed. Is it official, official that this is actually a true judgment and not just a scare tactic to get you to pay up?

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Yes, unfortunately the judgement is real...The only income I have is SS. Can they attach that? I have a house, but Florida law says they can't take that, or force me to sell it. Can they take personal property like a car, etc? Thanks very much.....rabbit

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Most state laws say they can't touch ss money. But cars,, ????? I don't think so

Thank you. I wonder if I have to remind the bank that the direct deposit they get is my social security check? ...thanks, rabbit...........

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Yeah, you may want to stop having that SS check go to that account because I believe that they CAN'T touch SS money but there is really no way to tell if that is what's going in to that account. I don't remember what some people have done to get around that.

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In Florida,they cannot touch your SS.But you cannot deposit other funds in your acct. as they can garnish that.As far as your car,if it is worth less than 1k it is judgement proof,as is your home.Hope this helps.

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Thank you for the references... It does not look encouraging...it states that the sheriff may levy any personal effects...we have some decent furniture from when we were both healthy and able to work..the cc debts are mine and I would assume that the furniture, etc, is jointly owned by my wife and myself...does that make any difference?? thanks.............

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First they will go to court and get the judgement.Then you will get some papers in the mail,requesting all personal financial info. wages(from where),the value of your car,and so forth.Also they will request last three months of bank statements.You will send this back to the lawyers who sued you,and you will go to the courthouse and file the papers with the clerk of the county court. Be sure to blackout ALL personal I D information.SS number,Drivers license# Bank Acct # and so on. Also if you have any questions call legal aid in your county.

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First they will go to court and get the judgement.Then you will get some papers in the mail,requesting all personal financial info. wages(from where),the value of your car,and so forth.Also they will request last three months of bank statements.You will send this back to the lawyers who sued you,and you will go to the courthouse and file the papers with the clerk of the county court. Be sure to blackout ALL personal I D information.SS number,Drivers license# Bank Acct # and so on. Also if you have any questions call legal aid in your county.

Unfortunately, they already have the judgement. My real question is what can they take as far as personal belongings? The car is in my wifes name only. Thanks for any advice.

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Thanks Textoy...I searched and googled for this info, but didn't see this...Many thanks...Any idea what happens when they start the execution process.....rabbit

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I have no experience with that. Hopefully one of the more experienced people will respond to your request.

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Given what happened with the BK attorney, I would think that the biggest worry would be that there might be some precedent that would allow the creditor to get the court to deny homestead protection for the house, or since it doesn't seem to have been owned for very long the creditor might also be thinking about forcing an involuntary bankruptcy, where even if the homestead exemption applies, there might be enough appreciation in the home to require its sale because some amount of appreciation might be in excess of the $137k cap where the house hasn't been owned for 40 months.

It would seem a harsh result if an exempt IRA somehow lost exemption when it was used to purchase what would otherwise be an exempt homestead, but there may be some quirk in the law that means that's the case.

Jonathan Alper writes a good blog on subjects like these, and it's easy to google.

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Given what happened with the BK attorney, I would think that the biggest worry would be that there might be some precedent that would allow the creditor to get the court to deny homestead protection for the house, or since it doesn't seem to have been owned for very long the creditor might also be thinking about forcing an involuntary bankruptcy, where even if the homestead exemption applies, there might be enough appreciation in the home to require its sale because some amount of appreciation might be in excess of the $137k cap where the house hasn't been owned for 40 months.

It would seem a harsh result if an exempt IRA somehow lost exemption when it was used to purchase what would otherwise be an exempt homestead, but there may be some quirk in the law that means that's the case.

Jonathan Alper writes a good blog on subjects like these, and it's easy to google.

Thank you for your response... Johnathan Alpers blogs are where I was first alerted to the 10 year look back period..I am guessing the BK attorneys are doing a cya, because it MIGHT not turn out the way I think it should.. I bought the house in Jan of 2004 The encouraging point is that all the blogs I have found on the subject say that the burden of proof (that the home should not be exempt) is on the CA and is typically a tough, but not impossible burden. I would appreciate anyone who has been thru Bk in the last year to let me know if your house was part of the filing and what was the outcome. (A ten year look back seems cruel and unusual...thanks, rabbit

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I can throw a little light on the rationale behind the 10 year look back period. Does anyone remember Paul Bilzerian? He was corporate raider back in the late 1980s, early 1990s, one of the companies he took over was Singer. He was involved in securities fraud; the SEC was after him. There were judgments in the millions of dollars against him. He moved to Florida and all his money went into a home in the Tampa area valued at $5,000,000 when he filed bankruptcy. His home (and therefore all the money that was bilked from investors) was exempt. There were other people who filed bankruptcy and kept million plus dollars homes, while walking away from judgments: Burt Reynolds and Bowie Kuhn come to mind.

Alpers' website states that "The new bankruptcy law has no effect on Florida's unlimited homestead protection outside of bankruptcy."

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Thank you for your response... Johnathan Alpers blogs are where I was first alerted to the 10 year look back period..I am guessing the BK attorneys are doing a cya, because it MIGHT not turn out the way I think it should.. I bought the house in Jan of 2004 The encouraging point is that all the blogs I have found on the subject say that the burden of proof (that the home should not be exempt) is on the CA and is typically a tough, but not impossible burden. I would appreciate anyone who has been thru Bk in the last year to let me know if your house was part of the filing and what was the outcome. (A ten year look back seems cruel and unusual...thanks, rabbit

Here's the form you file for BK. I don't think 10 a. or b. apply to your situation.

http://www.uscourts.gov/rules/Revised_Rules_and_Forms/BK_Form_B7.pdf

Check out this forum for BK questions.

http://www.bkforum.com/index.php

Good luck

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