writ of execution?

by Rose

I am being sued by a credit card company for $5,000 I was served papers about 2 months ago, I talked to the clerk at the judges court and she advised me to write the creditors lawyer back defending my case. also telling them I am unemployed.(4yrs) I wrote them the letter and apparently they are moving forward with this lawsuit, the debt was not sold to a collection agency it is the original creditor. I did respond to the Lawyers with a letter stating my attempts to pay the debt and how Target would not work with me)I also asked if they would settle for half I would make monthly payments of $100 (I did have the clerk file a copy of the letter I sent) the clerk mentioned to me that a WRIT OF EXECUTION could be a possibility or a judgement against our property. I am not so concerned with the judgement (I plan on staying where Im at until I die) as I am with the writ of execution. My concern with the writ of execution is that even though my husbands name is nowhere on the card, Texas is a community property state. I am concerned as to what they are able to take for payment if a writ of execution is pushed.
We have 4 vehicles, (all 4 family members are of driving age) we owe on 3, my name is on two of them. one is paid off.(old truck)..the other things we have are things in my husbands shop such as tools, compressor, and a tractor that we actually sold to his dad 2 yrs ago but he keeps it at our house most of the time. keep in mind we have not purchased anything in his shop but the tractor in our name, the tools,etc...are things that are borrowed or given to my husband for payment for working on peoples vehicles (he does not accept money) I personally do not have anything of value. We have contacted a lawyer about me filing chapter 7 but I am also confused about that, because as I read on the internet, with chapter 7 a lawyer could appoint someone to basically see what we have and sell it also to pay this debt. or that a creditor could possibly reverse the chapter 7 (this $5,000 is my only debt besides maybe a few medical bills totally no more than $1000) my fear is that with the writ of execution or even the chapter 7 they will come and take everything in his shop and sell at a public auction for pennies on the dollar, things that do not even belong to us but are on our property at the time they do "inventory" I am just confused as to what to do, we do not own any other credit cards and WILL NOT have another one, we are just trying to pay everything off we talked about refinancing the house to get the money to pay off the credit card, or borrowing the money for the chapter 7. If the lawsuit continues I will go to defend myself, I do not have documentation of my phone conversations so I am afraid Ido not have much of an argument. I do not deny that I owe the money but I repeatedly ask the credit card company for help, they did help me for 2 six month periods by lowering my interest of which during this time they took money out of my account,"they would review my case after each 6 month period and if I was not late on a payment they would re-evaluate my case and work with me" they added a finance charge of $49 after the first 6 month period "because the TOTAL amount was not paid at the end of the month.. so was never late for a whole year, but after that 2nd six month period they raised my interest rate back up and wouldn't work with me anymore.and raised my interest rate to 29.99% then I was attempting to pay what I could when I could, I would do a check by phone where the money was taken directly out of my checking account, sometimes making payments of $400, It was taking no less than 14 days or sometimes 20 days to post to my credit card account, now late fees are added to finance charges. it will take me 27 yrs to pay off this card the way it sits. We are just not sure wich option to take, I don't want my husband to lose his posessions but I don't know how concerned I should be about the writ of execution.

Comments for writ of execution?

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May 05, 2011
Writ of execution
by: Debtcollectionanswers.com

If the creditor wins a judgment against you and gets a writ of execution, it could not take any exempt assets that you own (assets that the law in Texas say are safe from creditors) to satisfy the judgment. However, it could take any assets you own that are nonexempt.

I recommend that you discuss your situation with a consumer bankruptcy immediately rather than getting information from the Internet, which is likely to confuse you. The attorney will tell you which of your assets are exempt and which are nonexempt and will also tell you if you are a good candidate for bankruptcy.
Click here fora free consultation with a bankruptcy attorney.

You may in fact be a good candidate for a Chapter 7 bankruptcy. This kind of bankruptcy would wipe out most of your debts in exchange for your giving up some or all of your nonexempt assets, if you have any. Also, filing for bankruptcy would stop the lawsuit immediately.

If filing for bankruptcy is not appropriate for you, then I strongly advise you to schedule an appointment with a consumer law attorney in your area who helps consumers resolve debt collection problems, because you will need good advice about how to deal with the lawsuit. I don't know when your court date is, but if you don't file for bankruptcy, it will be essential that you show up in court on that date to defend yourself. Otherwise, the creditor will probably get a default judgment against you and can then take steps to collect on that judgment.

Good luck!

May 06, 2011
by: Rosemary

is there anyway you can give me examples of exempt and nonexempt assets in Texas..
also if I show up to court to defend my case could there be the possibility that I could ask the judge to let me make payments to the creditor to pay off the debt or will they grant the judgement or writ of execution with no possibility of payments

May 09, 2011
Writ of Execution
by: Debtcollectionanswers.com

In response to your second question, you really should contact a consumer law attorney who helps consumers resolve their debt collection problems. The attorney can provide you with a complete list of exempt and nonexempt property in Texas and advise you about what to say to the judge. However, examples of exempt assets include your homestead and the aggregate fair market value up to $60,000 of your personal property, exclusive of the amount of any liens, security interests, or other charges encumbering the property, including a vehicle for each member of your family with a valid driver's license, tools and equipment used in a trade, and household furnishings, among other things.

BTW, your initial appointment with a consumer law attorney should be free, so what do you have to lose?

As for what the judge will decide if you show up in court (and I strongly urge you to do so; other wise the judge will probably award a default judgment to the plaintiff in the lawsuit) your guess is as good as mine. There is no way to anticipate what will happen. The best you can do is attend the hearing, tell the judge why you fell behind on your debt, and explain how you would like to take care of the money you owe.

Good luck.

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