Quote:
|
Originally Posted by Kipsy
Hi, I have a question. Let's say that a credit card company sued me for $12,000 and won a judgment against me in Arizona. Arizona law provides an Exemption of $5000 for one vehicle. Now, let's say that I have a car worth about $13,000 according to Kelly Blue Book values, and I owe about $14,900 for the car to a different car loan company. What would happen if the judgment creditor tried to seize the car and sell it at auction?....
|
This isn't legal advice, and I have no first-hand experience with Arizona case law, but in all of the states I'm aware of, they can't obtain a court order to seize a car if you don't own it outright (hold an unencumberred title to it).