Writ of Execution, Sheriff's Sale & Exemptions

[fool4school]

I defaulted on a private student loan, sheriffs levied some of my property (and some belonging to my parents), and a date for an auction has been set.

I live in Pennsylvania, which apparently has some of worst consumer protections in the US. My parents had to pay $30 to get their property off of the levy against me...and I can claim up to a $300 exemption.

The stuff of mine that was levied is practically worthless, but I am not sure how to fill out the form. Another poster (thanks, WhatMoney!) posted a link to these forms from PA which are close to the ones I have been given.

Here's my confusion:

The form has an area (on page 2 of those linked above) that states I must "specify the property and basis of exemption" -- I can list the property, but what is a reasonable "basis of exemption"?

Are there legitimate and illegitimate reasons to claim an exemption?

Can't I just say "Here's what I want to exempt, what's it's probably worth, and it's under the $300 max?"

Any advice would be welcome!

[GoingDown]

You probably will need to list the items you are claiming as exempt (and want back) and what you think they are worth, and then maybe something to back up your claims like looking for the item on ebay or craig's list, or some other place that sells used items and tells what they are worth.

I hear these reports coming from the eastern states, but so far, I have yet to hear of a Writ of Execution Sheriff's Sale in Arizona for a consumer debt. I have heard of them for a wrongful death lawsuit and a divorce lawsuit, but never for consumer debt (credit cards, etc.), since the Judgment Creditor is usually doing something like this for spite, not profit. By the time they pay all the fees, they will get only pennies of profit, if even that. And there's a good chance you'll get everything back, and they won't even get a penny, but will still have to pay all the fees.

[jacko]

Seems that the eastern states have the worst exemptions. My state just adjusted the Homestead exemption from $300,000 to $360,000, household furnishings from $9400 to $9900 and the auto from $4200 to $4400. These exemptions are adjusted every two years.

Why do vehicles have the lowest exemptions? Makes no sense. You would think that the gov't would want to have the junkers off the roads.

Even if I had private student loans, my state exemption gives me cover.

You probably will need to list the items you are claiming as exempt (and want back) and what you think they are worth, and then maybe something to back up your claims like looking for the item on ebay or craig's list, or some other place that sells used items and tells what they are worth.

I hear these reports coming from the eastern states, but so far, I have yet to hear of a Writ of Execution Sheriff's Sale in Arizona for a consumer debt. I have heard of them for a wrongful death lawsuit and a divorce lawsuit, but never for consumer debt (credit cards, etc.), since the Judgment Creditor is usually doing something like this for spite, not profit. By the time they pay all the fees, they will get only pennies of profit, if even that. And there's a good chance you'll get everything back, and they won't even get a penny, but will still have to pay all the fees.

[treehugger1]

The basis for your exemption could be the lines in your state codes/statutes. You may need to cite these as you list your exemptions. You can google your state exemptions and begin searching for your laws on your own.

[catleg]

PA exemptions and code sections

[tay666]

Seems that the eastern states have the worst exemptions. My state just adjusted the Homestead exemption from $300,000 to $360,000, household furnishings from $9400 to $9900 and the auto from $4200 to $4400. These exemptions are adjusted every two years.

Hell. I was happy last year when my state changed the homestead exemption from $5000 to $20000.

[catleg]

Yeah Jersey sucks, outside of BK you have a wildcard $1000 exemption. Which the clever bastards who run the collection court have discussed whether to mention this on the writ papers, but decided Nah, why bother.

[treehugger1]

Catleg, I noticed that with my most recent garnishment, the exemption papers that were included were not up-to-date.

Why am I not surprised that your wild card exemption is not listed on a form for garnishments/seizures?

[desperatio]

fool4school, I'm sorry to hear about what happened to you. I'm in a similar situation (unemployed, living in parent's house), and the exact scenario you described is what worries me the most. My folks are already less than thrilled with me, even though I was laid off from my job. If my debt caused any of their property to be seized I'll probably end up pitching a tent somewhere, and bankruptcy will be the least of my worries.