Nothing...

Posted by Ward-CA- on August 31, 2005 at 13:24:06:

In Reply to: WHAT DO I DO NOW posted by Joan on August 30, 2005 at 07:33:56:

Joan,

It would depend if your creditor thought you had sufficient equity in
your used car to make it worth their while to go after. Also, most states
have exemptions as to what a creditor can seize from a debtor to
satisfy their judgments.

It's common that they can NOT take your family car, because without
transportation there's a high probability you'd become unemployed
and burden on the state's unemployment fund.

So I don’t think you have anything to worry about as far as losing your
car is concerned.

Hope this helps,

~~~~~~Ward~~~~~~~

: i AM wondering if they can take my car for any amount left owed on
my house after they sell it. What about the second mortgage company.
I have not heard from them at all.

Follow Ups:

• Re: Nothing... - Joan 10:21:31 09/01/05 (1)
  • what do i do - JOan 10:23:31 09/01/05 (0)

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Comments:
: Joan,

: It would depend if your creditor thought you had sufficient equity in 
: your used car to make it worth their while to go after. Also, most states 
: have exemptions as to what a creditor can seize from a debtor to 
: satisfy their judgments.

: It's common that they can NOT take your family car, because without 
: transportation there's a high probability you'd become unemployed 
: and burden on the state's unemployment fund. 

: So I don’t think you have anything to worry about as far as losing your 
: car is concerned.

: Hope this helps,

: 
: ~~~~~~Ward~~~~~~~

: 
: : i AM wondering if they can take my car for any amount left owed on 
: my house after they sell it. What about the second mortgage company. 
: I have not heard from them at all.



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