Legal Question in Credit and Debt Law in New York

Garnishment/Car Repssession

I have a 1996 Infinity with 100,000 miles (only asset) I have receive one judgement with two more to follow. I have no dependents. My understanding is that the most my salary can be garnished is 10%, one creditor at a time. Is that true? Can my car be repossessed and will they? At this time, I cannot declare bankruptcy at this time.


Asked on 9/30/06, 10:19 pm

2 Answers from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: Garnishment/Car Repssession

certainly the car can be repossessed and sold at auction. You will be responsible as a judgment after a lawsuit for the amount left between the value of the loan and the sales price of the car, if you owe on the car.

Good Luck

RRG

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Answered on 10/01/06, 11:23 am
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Garnishment/Car Repssession

The car can only be repossessed if you owe money on the car and it is purchased on credit. If it is your car outright, it CANNOT be repossessed. You are correct about garnishment 10% of gross salary, one at a time. I don't understand why you cannot declare bankruptcy at this time...If you have a bank account that can be restrained as well.

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Answered on 10/01/06, 1:27 pm


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