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Judment against me, now they want my aSsets


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There is a possibility that i will be summoned to court after the court sent me a document to list all of my asets. I basically don't have much since I live at an apartment and own an 11 year old car.

My ex got a credit card with my name/credit and Discover card issued a judgment against last May. So the questions are:

If the collection agency finds out that all of my furniture is old, how would they proceed to obtain my unlisted stuff such as bank account?

Will they request my tax information? What documents do I need to bring for my car?

Will I need to provide take home pay information?

Child support payments, etc?

I tried to work out a settlement but they want more than what i have. Please help!

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They won't go after furniture or a car - these things are not easily convertible to cash and are more trouble than they are worth...no worries there.

Any retirement accounts are protected up to $1 million by ERISA (federal law).

Maybe some of the NC people can tell you if wage garnishment is allowed...I seem to remember one of the Carolina not allowing it.

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In NC it looks like the only wage garnishments are for Taxes, Child Support, Alimony and Student Loans. They can attach your bank and it looks like that is the only way they are going to attempt since you do not have assets worth going after. Yes they can make you provide all your account information to them at that time. Then you leave the hearing and go to your bank and close the account and move it to another bank. If you are not holding CDs or depository notes, etc it can be rather easy, although a pain.

By the time they go to the expense of getting a garnishment order prepared and spending the money to actually do it, only to find out that you no longer have an account, they have wasted probably a couple of months and lots of money. They will not come back to you for some time likely, if ever.

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List everything you have (generally, not specifically) on the Notice to Claim exemptions. If a sheriff comes around trying to execute, he'll take a peek around outside - if he doesn't see anything, he'll leave. They won't come into your house - at least I've never heard of that happening in NC (I used to live there)

(By generally, not specifically, I mean list "furniture" instead of the individual items. List "household goods" instead of dishes, appliances, etc.)

There is no wage garnishment in NC for a money judgment, so you need not worry about that. If the creditor wants anything more, he'll have to conduct a debtor's exam or file a Rule 1-352 supplemental proceeding to get you to disclose your banking information, tax returns, etc.

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Yes they can make you provide all your account information to them at that time. Then you leave the hearing and go to your bank and close the account and move it to another bank.

Exactly!! Be truthful in your answer(s) and then immediately make those answers useless. To the best of my knowledge, you're under no obligation to update or supplement your answers.

An old car, furniture, clothes, dishes, ect they want no part of. Do list those items. Not each and every one, but like Nascar advised. Think of garage sale prices. That is what they would get for your items and pay 100 times that seizing the items and getting them ready for sale.

They want money, stocks, bonds, houses and anything that can be turned into immediate cold hard cash.

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