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  1. #1
    Join Date
    May 2015
    Posts
    1

    Default Can Judgment Creditors Seize Jointly Owned Property

    My question involves collection proceedings in the State of: North Carolina

    I am being civilly sued by a credit card company for non payment. I am sure this will go against me as a judgement eventually. I own two vehicles (free and clear titles). One is titled in my name and my ex-husbands name and one is titled in my daughters name (she is a minor) and my name. Can they seize or place leins against these vehicles? Same question, different scenario....would the answer be the same if the debt was a personal loan?

  2. #2
    Join Date
    Mar 2013
    Posts
    17,632

    Default Re: Jointly Owned Property Seizure

    Credit card debts ARE personal loans.

    Yes, with a judgment the creditors can "execute" (not called a lien) against a vehicle and obtain possession of it as long as you were an owner. However, they would then have to adjust for any exemption amount and any ownership interest of others. If you sign over the car to others to take your name off the titles that would be defrauding a creditor and a judge could undo the transfer and give the cars to the creditor anyway.

    That being said, judgment creditors rarely go after vehicles because the process is time consuming and expensive and there is a vehicle exemption of $3500 in North Carolina. Creditors don't like spending money to get money they want to do it as cheaply as possible. So, unless you have really expensive vehicles I don't think you have too much to worry about.

  3. #3
    Join Date
    Oct 2006
    Posts
    15,996

    Default Re: Jointly Owned Property Seizure

    Quote Quoting adjusterjack
    View Post
    Credit card debts ARE personal loans.

    Yes, with a judgment the creditors can "execute" (not called a lien) against a vehicle and obtain possession of it as long as you were an owner. However, they would then have to adjust for any exemption amount and any ownership interest of others. If you sign over the car to others to take your name off the titles that would be defrauding a creditor and a judge could undo the transfer and give the cars to the creditor anyway.

    That being said, judgment creditors rarely go after vehicles because the process is time consuming and expensive and there is a vehicle exemption of $3500 in North Carolina. Creditors don't like spending money to get money they want to do it as cheaply as possible. So, unless you have really expensive vehicles I don't think you have too much to worry about.
    I agree and will add that most of the time, unless the vehicles are REALLY expensive (and owned in full) most creditors just are not interested in going after cars at all if they are not already lienholders on the cars. Its really more trouble for them than its worth.

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