Auto Repo Hell Posted November 12, 2009 Report Share Posted November 12, 2009 I'm trying to get my ducks in a row because I think I'm about to have a judgement come down against me.After I defaulted and lost my car, a family member passed away and left me 2 vehicles. The first is a very nice truck, valued at around $10k. This greatly exceeds my states exemptions. Can they force me to sell, or only put a lein against it?The second vehicle (well, vehicle may be too strong of a word) is a travel trailer. I have been considering giving up my house (that I rent) and moving into the trailer, which would make it my primary home and insure that they could do nothing more than put a lien against it, right?Am I being paranoid? I just don't want to lose 2 assets that can be so helpful in my life. In fact, the truck is my only vehicle now. Link to comment Share on other sites More sharing options...
unusualsuspect Posted November 13, 2009 Report Share Posted November 13, 2009 Generally, vehicles cannot be attached... who'd want to put a lien on an asset that not only is depreciating, experiencing daily wear and tear but also has the likelihood of being totaled in an accident?If you want to be totally safe, create a corp and sign the title of the vehicle over to it. That way there's definitely no way that it will get attached. Link to comment Share on other sites More sharing options...
poorbloke Posted November 13, 2009 Report Share Posted November 13, 2009 is there a ammount of time you have to get vehicle assests out of your name? or can you du that up intell they discover you have them assets? i know bankrupcy you have to have transfered it a year before of somthing.. Link to comment Share on other sites More sharing options...
unusualsuspect Posted November 14, 2009 Report Share Posted November 14, 2009 You generally have to do that before they start a lawsuit - after that it can be considered fraudulent conveyance.I'd think you're safe 90+ days before they file suit. Link to comment Share on other sites More sharing options...
nascar Posted November 14, 2009 Report Share Posted November 14, 2009 The answer to your question depends on the state you live in, and to an extent, your individual financial situtation. Can't answer your question without that information. Link to comment Share on other sites More sharing options...
poorbloke Posted November 16, 2009 Report Share Posted November 16, 2009 alaska is the state Link to comment Share on other sites More sharing options...
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