Will creditor take car if title is in both names?

[GoingDown]

I was worried back in 2005 that a credit card judgment creditor might take my vehicle, which is completely paid off, but so far, there has been absolutely no attempt made whatsoever by the judgment creditor to do anything with my vehicle. I think only local creditors are even remotely likely to go after a car.

It is too much trouble and risk and very little possibility of getting much money out of it, other than the shock value to the debtor, in the hopes that the debtor will suddenly shake lose enough money to pay off their debt to keep their car. But that's a huge risk to take.

Here are the steps involved in Arizona...

1. Get a writ of execution from the court -- pay a fee.

2. Get a sheriff's constable to serve the writ -- pay a fee.

3. Get a repo man to be out there when the sheriff is serving the writ -- pay for towing, storage, and insurance on the vehicle.

4. Notify lienholder(s) about the auction. The minimum opening bid at auction must pay off the lien and pay the $5000 vehicle exemption amount for the former owner. The vehicle exemption is $10,000 if the debtor is disabled.

5. Auction the vehicle. Pay for the auction. Pay the lienholder(s). Pay the debtor's $5000. If there is anything left, the judgment creditor gets it.

This is why it is rarely done for credit card debts. It is mainly angry ex-wives and other local creditors that might attempt this more for spite than for profit.

[DYLAN150]

GoingDown: Nice post! As i have said before, I have talked with a professional judgment collector and this person having 10 years experience, has only taken a few cars mostly classic type worth alot of money. They also said that you rarely get what you want for a vechile at an auction.

[rogue22]

Thanks again to everyone's responses'.

I believe in Florida, the car exemption is only $1000 but I get $4000 in personal property exemption which I could use toward the car instead. Im still little worried since they have nothing else they can take from me because Im claiming "head of household status".. No wage garnishment, no bank garnishment for 6 months.. From my understanding, I can't actually claim this until they try filing the garnishment with the court. Although I forewarned the creditor that this was my intention and filled out their work sheet which shows my spouse as unemployed.

When and If the the creditor files for the writ of execution, will this be public record on my local clerk of court records internet page like the initial lawsuit? I check out file once a week to see if anything new pops up so im not surprised one morning to see our car missing

[rogue22]

Also, just out of curiosity, what would be a local creditor?

[shark66]

Local creditor would be a local credit union, small local bank, etc. Chase or WF need not apply...

Once again, no one will go after your car. Too much trouble for an extremely uncertain - if any - gain.

Good luck.