Can my wifes vehicle be taken and sold to pay my debt?


(NC)

I have about 4 unsecured loans that I am probably going to be forced to default on due to financial problems (the mortgage beats out the credit cards). I have a vehicle that is in my wifes name only. WE also have a joint bank account.

In the state of NC, can my wifes vehicle be taken and sold to pay towards my debts? And in regards to our checking account, I understand wage garnishment in NC is not authorized, but can the bank account be seized for the money depositied into it?

And if my paycheck is direct deposited into an account that is only in my wife's name, can they seize money from it?

Comments for Can my wifes vehicle be taken and sold to pay my debt?

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Sep 08, 2010
 defaulting on debt
by: Gerri & Mary

We're sorry to hear about the financial difficulties you're experiencing. It must be incredibly stressful. We would encourage you to go ahead and set up a a free confidential consultation with a bankruptcy attorney who can answer these detailed questions for you.

We could give you general information about property exemptions in North Carolina but it may not answer the specific questions you have, and we think you will sleep a lot better at night if you at least know what your options and rights are.

In addition, the fact that you have consulted with a bankruptcy attorney may prove helpful if it turns out that you need to negotiate settlements with these creditors. if you can truthfully tell them that you have met with a bankruptcy attorney and are considering going that route by trying to avoid it, they may be more willing to try to work with you to get something rather than nothing.

In addition to meeting with the bankruptcy attorney, which we do believe is your first step, you may also want to listen to our
debt settlement podcast to learn more about how settlement works.

We hope this helps, and we hope you're able to find a solution to put these money problems behind you.

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