Can A Judgment Creditor Take My Car?
A judgment creditor can take your car if the balance of a court-ordered debt is not paid. A creditor may be able to seize any assets that you own, such as your car, in order to satisfy the debt. This process is known as execution and it usually happens when a debtor has failed to pay a large amount of money or has failed to make payments on time.
The specific laws regarding how creditors can take your car vary from state to state, so it’s important for you to understand how these laws apply in your area. Generally speaking, creditors will only be able to take possession of property that is valuable enough that selling it would recover some of the money owed by you. Your vehicle may qualify if its value is more than what you owe on it and more than what is exempt under the law.
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