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Sub: #1 Judgment Ordered - Can I Lose My Car?
Replied on 07-01-2009, 06:32 AM
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I have a judgment against me for a credit card debt, and while I have a full-time job with wages am I also going to risk losing my car? I do need it for work on the weekends when there is no available public transportation.




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Sub: #2
Replied on 07-01-2009, 06:32 AM
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What state do you live in?

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Sub: #3
Replied on 07-01-2009, 06:35 AM
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New Jersey




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Sub: #4
Replied on 07-01-2009, 06:38 AM
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Goods and chattels, shares of stock or interests in any corporation and personal property of every kind, not exceeding in
value, exclusive of wearing apparel, $1,000.00, and all wearing apparel generally are reserved for a judgment debtor's family use before and after death, and are not subject to execution. (Sec. 2A:17-19.) Household goods and furniture not exceeding $1,000.00 in value of a person shall also be exempt from attachment, except for a debt incurred in the purchase thereof. (Sec. 2A:26-4.) In addition, disability benefits, sickness insurance policies, workers' compensation benefits, and retirement benefits are generally exempt from execution. (Sec. 17:18-12, 34:15-29, 43:21-15(c), 43:13-9, 37.5.)
The State of New Jersey does not appear to provide a statutory provision for homestead exemption.

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Sub: #5
Replied on 07-01-2009, 06:42 AM
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I'm a little confused by that.




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Sub: #6
Replied on 07-01-2009, 06:46 AM
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If you own the car outright and it is worth more than $1000 then it is possible that it would not be exempt.




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