Legal Question in Credit and Debt Law in North Carolina

Have rec'd copy of RIGHTS TO HAVE EXEMPTIONS DESIGNATED from CACH, LLC seeking relief of credit card debt.I beleive the debt tobe no more than 1700.00. Do not own home living in, have leins on car and recovering from being unemployeed .(reason debt not paid) Question is should I fill out this form or let it ride and see what happens since I own nothing in my name? Thank you for your time M.Dellinger


Asked on 1/13/10, 3:42 pm

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Yes you should fill out the form. There is absolutely no advantage to not filling it out and they will attempt to execute. First of all, there may be equity in your car. If not, you would still indicate the fair market value on there as well as the amount due. Put a negative number if the amount due is more than the car. Then use your exemptions to claim any personal property you own that has some value (like TVs, etc.) There would be absolutely no reason to NOT fill this out even if you have very little. It may also save you the trouble of being executed on by the Sheriff even if you have no property for them to sell and the Creditor may just give up any further attempts to collect.

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Answered on 1/19/10, 5:03 am


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