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  1. #1
    Join Date
    Feb 2011
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    16

    Default What Can the Collectors Do when They Win a Judgment Against Me

    My question involves collection proceedings in the State of: Las Vegas, NV

    If a CA or cc company sues me for a debt and I lose and get a judgment against me, I assume they have the right to take anything that is registered under my name - real estate, cars, bank deposits, etc.

    I am wondering to what extent they can come after my properties. For ex, can they physically come into my house without notice and take whatever I own - TV, computers, bicycles, etc?

  2. #2
    Join Date
    Jan 2006
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    28,301

    Default Re: What Can the Collctors Do when They Win a Judgment Against Me

    the answers are all here

    http://www.leg.state.nv.us/Nrs/NRS-0...l#NRS021Sec090

    Ok, you don't have a magnifying glass. Here is a short summary of the major points:

    Chapter 21 of the Nevada Revised Statutes lists property that is exempt from execution in Nevada. NRS 21.090. Exempt income includes:

    Social Security, SSI, SSD
    Public assistance such as TANF or food stamps
    Unemployment benefits
    Disposable earnings under $362.50 per week
    $1,000 in a bank account
    Veteran’s Benefits, Railroad Retirement benefits, PERS (Public Employee’s Retirement System), or FERS (Federal Employee Retirement System), or CSRS (Civil Servant Retirement System)
    Worker’s Compensation
    Child support or alimony income
    Payments received from a wrongful death judg-ment or settlement
    Exempt property includes:

    Up to $550,000 in equity in a homestead (Homesteading Your Home)
    Jewelry, musical instruments, or other keepsakes not to exceed $5,000
    Necessary household goods not to exceed $12,000
    Farm equipment, trucks, stock, tools and sup-plies not to exceed $4,500
    Tools, instruments, and materials of trade not to exceed $10,000
    One vehicle with less than $15,000 in equity

  3. #3
    Join Date
    Feb 2011
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    16

    Default Re: What Can the Collctors Do when They Win a Judgment Against Me

    Quote Quoting jk
    View Post
    the answers are all here

    http://www.leg.state.nv.us/Nrs/NRS-0...l#NRS021Sec090

    Ok, you don't have a magnifying glass. Here is a short summary of the major points:
    Holy cow...I had no clue.
    Thanks for this link.
    Does this mean that I can actually have a bank account with under $1000 in it and they can not touch it? And my car - which is worth less than $2000 probably, will not be towed away in the middle of the night?

  4. #4
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    Jan 2006
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    Default Re: What Can the Collctors Do when They Win a Judgment Against Me

    What I read seems to allow up to $15k in equity in a vehicle.

    f) Except as otherwise provided in paragraph (p), one vehicle if the judgment debtor’s equity does not exceed $15,000 or the creditor is paid an amount equal to any excess above that equity
    and to the $1k. The only thing I could find involving that amount would be this:

    (z) Any personal property not otherwise exempt from execution pursuant to this subsection belonging to the judgment debtor, including, without limitation, the judgment debtor’s equity in any property, money, stocks, bonds or other funds on deposit with a financial institution, not to exceed $1,000 in total value, to be selected by the judgment debtor
    That is not just concerning a cash bank account. That includes
    the judgment debtor’s equity in any property, money, stocks, bonds or other funds on deposit with a financial institution

  5. #5
    Join Date
    Feb 2011
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    16

    Default Re: What Can the Collctors Do when They Win a Judgment Against Me

    Im still wondering if they are able to come into my house to physically take inventory of what is inside my house and garage and take whatever they want after they win a judgment.....?

  6. #6
    Join Date
    Jan 2006
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    28,301

    Default Re: What Can the Collctors Do when They Win a Judgment Against Me

    they seek a judgment debtors exam. That is where you get to tell the court what you have. You would be under oath and failure to be honest can result in penalties, including incarceration.

    I am not sure how forceful Nevada gets. From reading the laws (which this question is addressed in the link I provided previously as well), they tend to give a good path of action for a judgment creditor to take that will tend to force the judgment debtor with the courts demand. Basically, if you refuse to turn over non-exempt assets that the creditor makes a demand for, the creditor can seek charges of contempt against you. They can put you in jail for that and require you pay a bond to be released.

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