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Property exempt from lawsuit judgment is the same that is allowed in bankruptcy. Unfortunately, Ohio law gives the consumer very poor protection from judgment creditors. Basics: Homestead exemption $5,000. Private disability benefits, $600 (monthly) Personal property not to exceed a combined total of $2000. "Wild Card" any property not to exceed the amount of $400. Federal non bankruptcy exemptions are applicable (such as Social Security, pension benefits, etc.
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Is your property in Michigan exempt if you do not pay your mortgage in Florida?
Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.
What is the worst thing that can happen in Pennsylvania if you owe credit card debt and don't pay it?
The person can be sued and if the plaintiff wins a judgment they can execute the judgment against any non-exempt property belonging to the debtor. Pennsylvania does not allow wage garnishment for creditor debt issues, but it does allow bank account levies, liens against real property and in some cases the seizure and forced liquidation of non-exempt assets.
Can liens be placed on property in North Carolina for non-payment of credit card debt?
Yes, in most cases a lien can be placed against real property belonging to the debtor. If the person is married and it is not a joint debt the property would be exempt from any attempt at forced sale. The N.C. homestead exemption is $10,000.
In the state of Ohio can a husband be held financially responsible for the wife's repossessed vehicle if his name is not on the loan?
No, Ohio is not a community property state, therefore debts solely incurred by one spouse are not the responsibility of the other.
How long do you have to wait to file bankruptcy after I have passed a property on to your son?
Thank you for passing your property to my son. Since I do not have a son, I guess it remains in limbo. If your son paid you the value (equity) of your home, you will have to disclose the transfer, but it will have no effect on your bankruptcy. If you gave the property to your son for free, and there was equity in the property, probably two years, if you gave the property knowing you were insolvent and intending to deprive your bankruptcy estate of the asset. It would have been better to discuss this with a bankruptcy lawyer before passing the property, as you might have been able to exempt the property in the filing.
What property is exempt from being taken by a collection agency?
all of them
What personal property is exempt from collection in ohio?
The Ohio legal services web site has good advice and all the basic rules listed. I searched "Ohio Collection Rules" and it was 4th or 5th in the list Collections can't take personal property not specifically awarded to them in a law suit. A bill collector can't just take any property. But if you loose a lawsuit they can take everything of value if it is specified in the judgement, including the coat off your back and your special edition Jordan's.
What can collection agencies do if you really cannot pay them because you do not have the money?
Sue you, and if they win they can take whatever property isn't exempted. Also they can garnish wages and sometimes bank accounts. what is exempt property?
Article X of the alabama constitution?
Article X of the Alabama constitution is called Exemptions. It has seven sections that list property exempt from sale for debt collection.
Can you open a profitable business on tax-exempt property?
Generally not...loses exemption if not used for the exempt purpose
Is a coin collection personnel property?
yes a coin collection is personal property.
What tenant property is exempt from a landlords lien?
personal
What is a survivorship exempt deed?
A survivorship exempt deed is a deed that conveys property in the names of multiple people. This type of deed is exempt from tax reassessment.
Does the state of Ohio tax widow's benefits?
Social Security benefits are exempt from Ohio state income taxes.
What rights does a surviving spouse in have in Ohio if the deceased had no estate?
In Ohio, a surviving spouse may have rights to a family allowance, exempt property, and a share of the deceased spouse's estate if there were children from a previous relationship. Depending on the circumstances, the surviving spouse may also have rights to social security benefits or life insurance proceeds.
Are the churches in Florida exempt from paying property tax?
In Florida, churches are generally exempt from paying property tax on the portions of their property used for religious worship or related activities. However, they may still be required to pay taxes on portions of their property that are used for commercial purposes.
When you go bankruptcy do you have to put up your house for collatoral?
In most cases you will not lose your home during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in chapter 13.
