Got my first judgment

[ssdsco]

Update - I reviewed this with my BK attorney. We went over my assets again. The few things that I thought might not be exempt from judgment/BK no longer have enough value to go after. His advice was not to waste my time/money fighting the improper service.

He's also a trustee and according to him the value of older cars, motorcycles, used boats, ATVs, snowmobiles have all dropped significantly. KBB, NADA don't reflect the current economy.

The other nice thing is NY just passed a law protecting the first $1700 in a bank account. More if you have direct deposit for an exempt SS, pension, etc. The bank has to reject any garnishment order and cannot charge any account holder fees. With this my wife and I can have separate accounts with up to $1700. We won't have to go the off the grid money order route.

I believe California and another state have a similar law.

They can paper my world with judgments now. The only issue is paying for a home appraisal needed to remove any judgment liens.

[floridian]

curious, how does an appraisal remove the lein?

[Loose Cannon]

[QUOTE=ssdsco;249958]

The other nice thing is NY just passed a law protecting the first $1700 in a bank account. More if you have direct deposit for an exempt SS, pension, etc. The bank has to reject any garnishment order and cannot charge any account holder fees. With this my wife and I can have separate accounts with up to $1700. We won't have to go the off the grid money order route.

I believe California and another state have a similar law.QUOTE]

I'd be interested in knowing "chapter and verse" for the law in California. I live in California and have never heard of such a law.

[BigJohn]

ssdsco, even though you weren't served, this might be a hard case to win. It appears to be your word against the word of an honorable paper server. File a complaint against him/her but at the same time protect your back side. This layer likes to play ball, I mean low ball, so they have gotten you once already so knowing this, don't let them get you again.

[ssdsco]

Here's the NY law info. Maybe google would give you info for other states.

http://www.empirejustice.org/New/Consumer/Consumer12.html

An appraisal is required to prove you have equity in an asset and the lien impairs a BK exemption covering that asset.

Everything I have is protected from judgment so I'm covered from any creditor getting anything from me including my bank account.

[sassiebaz]

What's typical as far as time frame of obtaining a judgement??? I live in AZ.

[treehugger1]

Oregon allows $7500 of exempt cash in a bank account. I'm not so sure I would want to test this out though. LOL

[ssdsco]

The new law in NY goes beyond the typical BK/judgment exemption for cash. In NY your bank cannot levy/garnish/freeze your account for the first $1700 or charge account fees. You don't have to deal with a frozen account while trying to prove your funds are exempt. Great especially for people on disability and social security with low income.

I does take some planning to work within 2 (husband and wife) $1700 accounts. My house payment can suck that dry.

[GoingDown]

Oregon allows $7500 of exempt cash in a bank account. I'm not so sure I would want to test this out though. LOL

Exactly!

I wouldn't necessarily rely on these exemptions being automatic and I wouldn't rely on the banks to have your best interests at heart. Going to court to try to force a bank to give back your money is time consuming and expensive.

When you have a judgment against you it is best to never put more cash in a checking account than you can afford to lose.

Keep cash and use money orders to be on the safe side.

[BigJohn]

The best bank might be your pocket.

[GoingDown]

The best bank might be your pocket.

Or behind the loose piece of drywall in one of your closets with a bunch of old clothes and other junky things piled in front of it. Hey, it works for me. Even with a judgment, the creditor has been unable to get a penny from me so far.

[willbfree]

Locally they just arrested and prosecuted a process server who was not going out and actually serving people. He was lying about serving the papers and it came to the attention of someone in the court system who started an official investigation. After the investigation they determined the guy was doing it on a large scale and lots of cases and judgments got thrown out. So make sure you do report it because patterns do get investigated.