Question about judgements
Date: Fri, 01/08/2010 - 15:24
Amex is suing me. I'm still hoping to settle, so this may be premature, but I have a sort of odd question about what they can actually go after in terms of my personal property if it does goes to court.
I own several horses. Not all of them are worth a lot, but some are. I dont really run it in a business manner, though I do get some income from teaching lessons etc. My horses are not really listed anywhere as an asset, per se. They are not insured and I dont claim them as any kind of deduction or anything on my tax return. And as far as I know the creditors dont really know I have them. Unless they researched my personal life, they probably wouldn't ever know. It'd be kinda like them trying to find out what sort of couch I have. Or if I have any valuable antiques or jewelry.
Would it be possible or likey for them to try to take my horses away from me or force me to sell them to try to pay off a judgement or debt?
I own several horses. Not all of them are worth a lot, but some are. I dont really run it in a business manner, though I do get some income from teaching lessons etc. My horses are not really listed anywhere as an asset, per se. They are not insured and I dont claim them as any kind of deduction or anything on my tax return. And as far as I know the creditors dont really know I have them. Unless they researched my personal life, they probably wouldn't ever know. It'd be kinda like them trying to find out what sort of couch I have. Or if I have any valuable antiques or jewelry.
Would it be possible or likey for them to try to take my horses away from me or force me to sell them to try to pay off a judgement or debt?
IMO you need to discuss the issue with an attorney.
IMO you need to discuss the issue with an attorney.
I did and am. I am just wanting other opinions for the sake of
I did and am. I am just wanting other opinions for the sake of bouncing things around.
