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Can anyone explain this?

Date: Wed, 01/16/2008 - 09:03

Submitted by anonymous
on Wed, 01/16/2008 - 09:03

Posts: 202330 Credits: [Donate]

Total Replies: 4


GA Senate Bill 347 Article 3 44-13-120 "As against a domesticated judgment from another state, a judgment debtor resident in GA shall be entitled to assert, in addition to any other exemption under GA law, an exemption from levy and sale and any other process equal to the exemption which would be provided to the judgment debtor by the law of the state in which the judgment was entered if the judgment debtor were a resident of that state."
Thanks


I think it means that:
A) if you have been sued and have a judgment against you in another state; and
B) now you live in GA and the creditor wants to register that judgment in the state of GA for enforcement;
C) GA will honor the original states allowances for exemptions, and you can claim both GA exemptions + that state's exemptions.


My Example:

Suppose I get a judgment against me in IL for $5000.

Now suppose I have a car that is paid off and worth about $4000.00. The creditor may want to sieze/levy my car to pay off that judgment. However, IL will let me claim something like $4500 exemption for my primary mode of transportation. So since my exemption is greater than the car is worth, the creditor cannot take my car.

Suppose I move to Georgia. (Now I don't really know what GA laws are), but maybe Georgia only gives me a $1000 exemption in my primary vehicle. Since my car is worth $4000, less $1000 exemption, the creditor can still levy my car in the amount of $3000 and I might have to give it up.

If the creditor follws me to GA and registers that judgment, I think that this article is saying that I can claim both GA exemption ($1000) + IL exemption ($4500) to have a total of $5500 in exemptions for that vehicle. Since those combined exemptions are more than the car is worth, the vehicle is safe from attachment.


lrhall41

Submitted by DebtCruncher on Wed, 01/16/2008 - 17:50

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