What's The Likelihood They Come After Assests

[catleg]

I would like to correct one thing BB says. Just in case you live in NJ, I would hate for anyone to be misinformed; the rest of you will probably read this and say "Thank God I don't live THERE."

Here in NJ, which turns out to be an extremely creditor-friendly state, debtors exams are a routine part of the work flow for the many "creditors rights" law firms doing business here (scumbags).

First they serve you with an "information subpoena", then after 14 days they can serve it to you again, and finally you get hit with the motion for arrest which they have lovingly renamed to "Motion to Enforce Litigant's Rights".

I am currently ignoring the first phase of the subpoena process; they haven't bothered me yet about it since I have a Motion for Reconsideration in play since it appears the judge's idiot law clerk granted summary judgment without so much as glancing at my papers. After that I will inform the court that the plaintiff did not comply with the rules of the court regarding these subpoenas which requires 2 copies and a postage prepaid envelope be supplied to the defendant.

[catleg]

If his debts are unsecured credit cards, his vehicle or anyone else would be exempt.

I suspect this is a common misperception. Once unsecured debt is converted to a judgment, any non-exempt property under state law is at risk of seizure.

In states with skimpy personal exemptions (ahem, NJ again) there is little choice once you get judgment(s) against you except file Bk (using the Federal exemptions) or possibly move to a more debtor-friendly state.

(I wish I lived in Texas).

[catleg]

To make matters worse, the deputies of Special Civil Part court in NJ, are considered independent contractors and get paid 10% of whatever loot they are credited with bringing in, to be added onto the debtors judgment tab, of course, not subtracted from the plaintiff's end.

[lookinupn09]

? What if he had a 50K painting, how would they know?

Just wondering how they would know if he had a painting worth 50K? If he did not claim it, just curious. Appreciate any thoughts. Thanks

[catleg]

Just wondering how they would know if he had a painting worth 50K? If he did not claim it, just curious. Appreciate any thoughts. Thanks

Unless you're Mrs Bernie Madoff or some art dealer, its unlikely anyone would figure it out.

Would be funny to pick up a few paintings at the hotel/motel art sale and start blogging about your Rembrandts and see what happens.