Legal Question in Credit and Debt Law in Oklahoma
before my wife and i were married ,she purchased a new car. After making app. 2years of payments the car was returned to the dealer because she lost her employment. last night i was served with a summons and a petition of indebtedness for the remaining balance of the car. well,nothing has changed, we are a single income family with a child and have no way of paying the 8200.00 they are asking for.The only advice i have been given so far is to close our joint bank account so that it wont be garnished,we dont have a home title, i do own land but it is in my name,just wondering what can be garnished in oklahoma since we werent married when the car was purchased,the only thing of "value" we have in our names are a 1993 and a 2000 truck. any help would be appreciated.
1 Answer from Attorneys
If only your wife signed the note and only she has been named as a defendant, then the judgment creditor will only be allowed to pursue your wife�s income and non-exempt property. Your wages can not be garnished. However, if you deposit your paycheck into a joint bank account with your wife, there is a presumption that half of those funds are hers. In that case, the account could be garnished and you would need to pursue a claim for exemption just to get half of the balance returned.
Property that your wife does not have any interest in and that is titled only in your name is not subject to the judgment. Regarding the two vehicles, each of you has the right to claim an exemption up to $7500.00 in a motor vehicle.
For more information on exempt property go to Title 31 Oklahoma Statutes Section 1 (found at: http://www.oscn.net/applications/oscn/DeliverDocument.asp?CiteID=71487 ) . Other sections of Okla. Statutes provide additional exemptions, but this is the primary exemption provision.
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