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Asset Transfer and judgement

Date: Thu, 03/04/2010 - 20:06

Submitted by Nasim1267573302
on Thu, 03/04/2010 - 20:06

Posts: 17 Credits: [Donate]

Total Replies: 3


My wife had several credit cards that are currently in default. She paid some of them in full and closed, but many of them are extremely past due. Capital One recently sued to a county different from our county. We are waiting for the judgement after which we will request judge to vacate it since it is out of our judicial district. She is unemployed and has only asset in her name - a car worth 5k to 6k. If any judgement goes against her, they may go after it. What is the rule in virginia ? Will the judgement creditor send questionares to declare the asset ? She really needs the car for helping the kids to school while I take mine to my work. I am much worried on it. Please give some advice what to do. Thanks a lot....


What is the worth of a car that judgement creditor can not touch in Virginia. The only asset she has is a car worth 5k. What can she do with it which will not be a fraudulent action ? Or, what can she do to avoid levying the car if judgement really is against her ? Please give some advice. Thank you so much..


lrhall41

Submitted by Nasim1267573302 on Mon, 03/08/2010 - 05:27

( Posts: 17 | Credits: )


Okay, Nasim, as I have mentioned above, wage garnishment is allowed in VA but if she is not earning then the creditor may come after her real and personal property to collect the judgement.

Anyway, the available homestead exemption on a vehicle is $2000. Hence, the creditor can come after her vehicle to collect the judgement. IMO you should seek legal help to know if you can save the vehicle somehow.


lrhall41

Submitted by SC on Mon, 03/08/2010 - 19:50

( Posts: 3937 | Credits: )