florida vehicle exemption

[floridian]

im looking at a summary credit card judgement for the amount of 11k and the only thing seizable is my jeep.. its an 05 and is paid for... its blue book is up to 17k... ive read that i have a combined exemption of 5k in florida, with the wild card..

so, if it is seized and sold at auction, does that mean the creditor has to return 5k of what it sells for??

[tobee43]

if they get over the amount you owe them, yes it has to go back to you. however, these auctions always seem to eat up a ton of funds in fees and costs.

i also think you are getting confused about the exemption here. when you file in florida you get the exemption and if your car is over that amount the trustee allows you to buy back anything over the alloted amount. i know our car just hit the limit, but we would have had a choice.

if you are filing bk, you can just eliminate the judgment after the discharge and close of your bk. unless you are in 13 and there is a pay back schedule set up.

you have this thread in the" before discharge "category, so when is it you have filed?, because that judgment should have been listed on your petition, and unless it's a secured creditor would or will be discharged with all the other creditors you list.

[AngelinaCatHub]

im looking at a summary credit card judgement for the amount of 11k and the only thing seizable is my jeep.. its an 05 and is paid for... its blue book is up to 17k... ive read that i have a combined exemption of 5k in florida, with the wild card..

so, if it is seized and sold at auction, does that mean the creditor has to return 5k of what it sells for??

We took a Writ of Execution on a Judgment I got, and then purchased the car at auction. Only 1K exemption on a car in FL so we had to allow 1K back to the owner. So I would assume yes on that one. I'm not sure about rolling the other wild cards etc. into that. 'Hub

[tobee43]

We took a Writ of Execution on a Judgment I got, and then purchased the car at auction. Only 1K exemption on a car in FL so we had to allow 1K back to the owner. So I would assume yes on that one. I'm not sure about rolling the other wild cards etc. into that. 'Hub

morning hub!!!

we got to take the entire wildcard exemption on the car, because we didn't own any other real property, and didn't use the homestead since we didn't own a house.

[floridian]

im kind of panicing here, as ive saved for 2 years to buy this vehicle and not have to drive a family owned car... the thought of losing all that money to a jdb, makes me sick... my lawyer turned out to be a dud and gave me conflicting information... everyone is telling me not to worry, but a free and clear car with 14k equity looks like a target to me, considering my income is exempt..

how do i go about claiming my exemption? do i have to wait until its seized?

[tobee43]

im kind of panicing here, as ive saved for 2 years to buy this vehicle and not have to drive a family owned car... the thought of losing all that money to a jdb, makes me sick... my lawyer turned out to be a dud and gave me conflicting information... everyone is telling me not to worry, but a free and clear car with 14k equity looks like a target to me, considering my income is exempt..


how do i go about claiming my exemption? do i have to wait until its seized?

again, i'm going to ask..have you filed bk???

you really need to find another atty, there are thousands out there and you can get some free consults...since again, i have no clue what you're trying to do. if you have filed and you are not claiming the homestead exemption you can take advantage of the wildcard exemption at that time...that is the TIME you file bk.

if you're car is worth more than the exemption allowance, then the trustee will allow you to buy back the amount that's not covered under the exemption. again, if you have filed why are you worried about a lawsuit, you just list them on your petition a stay is put in place so they cannot touch you until your bankruptcy is decided.

[floridian]

no, i havent filed... i paid the lawyer to file, then he advised against it...said i would come out better in the long run, not accepting a 13...its a long and complicated situation..

my only concern at to moment, is keeping my vehicle...

i had a good year.. got divorced... got hit by an uninsured motorist on my motorcycle and almost died... got a blood clot from the surgery and almost died.... then 6 months later, i had the "widow maker" heart attack and almost croaked again..

so, i had bigger fish to fry this year...

[tobee43]

that's quite a year indeed, i hope this year goes better for you. i hear you, one has to pick their battles to help win the war.

[mlsj2009]

im looking at a summary credit card judgement for the amount of 11k and the only thing seizable is my jeep.. its an 05 and is paid for... its blue book is up to 17k... ive read that i have a combined exemption of 5k in florida, with the wild card..

so, if it is seized and sold at auction, does that mean the creditor has to return 5k of what it sells for??

If you have a clear title in your name, the only way I think anyone can seize your car is to have petitioned the court through having been awarded a judgment, then given permission to attach a lien on your automobile title. This will have to be recorded in a court somewhere in the state in which you hold the title. Have they attached a lien? If so, then filing a bankruptcy is the only way I know you might stop the repossession.