Judgement - can they take my personal belongings?
Can my furniture / personal belonging to sold to satisfy a judgement?
Reply from DebtCollectionAnswers.com:
Maybe, maybe not. It depends on bankruptcy exemptions”> state exemptions - property that is safe from creditors under state law. (Of course, if you pledged any of your belongings as collateral for a loan, they can be repossessed.)
However, from a practical standpoint, it is very unlikely your creditors are interested in your personal belongings unless you own something very valuable. After all, they would have to take yoru stuff, store it, and sell it. And it may not be worth that much used anyway.
If you are worried about what a judgment creditor can and cannot go after, we encourage you to talk with a bankruptcy attorney who can explain what the creditor can and cannot go after.
Click here to post comments
Return to Debt Collection Questions.
Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2017 by Mary Reed and Gerri Detweiler.
All rights reserved.