Legal Question in Credit and Debt Law in Indiana

I have a loan with personal finance. Its an older loan, over 5 years. Its for a van. I received a statement saying i had 30 days to repute the loan or they would go to court and file a judgement against me. The vehicle has long been gone ,,,scrapped. My mother recently passed away and we purchased a newer vehicle and have an older van. My question to you is this. Can they take my current two vehicles if they do get a judgement, and then a lien. I own no property at all, and have little savings.


Asked on 9/09/15, 7:35 pm

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

If a creditor has a judgment against you, the creditor can collect by attaching (seizing) your assets, including vehicles. However, if you have a loan/lien outstanding on your vehicles, the creditor can't take them because the entity which gave you the current loans would have a superior lien.

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Answered on 9/10/15, 2:58 pm


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