Legal Question in Credit and Debt Law in Nevada

I reside in Nevada. I'm about to file for bankruptcy. I recently had my entire bank account garnished and I'm concerned that the same could happen to my truck. I have $5,000 equity in my truck.

Chapter 21 of the Nevada Revised Statutes lists property that is exempt from execution. NRS 21.090 exempt income includes one vehicle with less than $15,000 equity.

Am I right in thinking that my vehicle is safe from my creditors?

Thanks.


Asked on 6/26/10, 8:34 am

1 Answer from Attorneys
Jeffrey Cogan Jeffrey A. Cogan, Esq., Ltd.

Yes, whether you file or not. You can also get $1,000 of the bank account back. NRS 21.090(1)(z).

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Answered on 6/26/10, 12:28 pm


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