jon321 Posted October 2, 2010 Report Share Posted October 2, 2010 I received a letter from a law firm in short saying they won a judgment against me and they can put a levy on my personal property. The only personal property I have is my vehicle with an assessed value of $1700. I am unemployed right now and trying my best to find work. Being that the vehicle I have is my only means of transportation to find work I started doing research to find out if they could legally take it away from me. I found that if I was to file for bankruptcy I could file a personal property exemption to keep my motor vehicle as long as it didn't exceed $2,000 in value. Is there any way I could somehow make a personal property exemption without having to file for bankruptcy? Any suggestions would be greatly appreciated.......thanks. Link to comment Share on other sites More sharing options...
cinnamngrl Posted October 3, 2010 Report Share Posted October 3, 2010 unless the money owed is for that car it is not automatic. they would have to file for a lein. and they don't want your car. be more concerned about your checking account.. Link to comment Share on other sites More sharing options...
WhoCares1000 Posted October 3, 2010 Report Share Posted October 3, 2010 Usually, if the state has its own BK exemptions, the usually align with the garnishment exemptions so if the state allows you to keep a car whose net worth is less than $2000 and your car is worth $1700, they cannot take it.As the other poster said, I would be more worried about any bank accounts you may have.Another thing is to contact the local courthouse or even DV the sender of the letter requesting a copy of the judgment. I think the FDCPA requires the collectors to send you the actual judgment if you request it, not a letter saying they verified it. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted October 3, 2010 Report Share Posted October 3, 2010 A car that is worth $1,700 is 1) possibly exempt from levy anyway and 2) not an attractive asset to take. If you car was worth 10k and you did not have a note on it, much different scenario. Link to comment Share on other sites More sharing options...
Flyingifr Posted October 3, 2010 Report Share Posted October 3, 2010 Generally speaking, whatever is exempt in bankruptcy is exempt from Judgment Creditors also. Link to comment Share on other sites More sharing options...
jon321 Posted October 4, 2010 Author Report Share Posted October 4, 2010 Thanks a lot for everyones replies. It's comforting to know I don't have to worry as much. That was my biggest worry cause right now I don't have a job and basically live in the middle of nowhere. So without my vehicle that would have made my situation a lot worse. Thanks again Link to comment Share on other sites More sharing options...
creditidol Posted October 15, 2010 Report Share Posted October 15, 2010 Get the Judgment Vacated..Be on the safe side.. Link to comment Share on other sites More sharing options...
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