Legal Question in Credit and Debt Law in Tennessee

Yes, they can be taken, but only though judicial process.

You can be sued for the outstanding balance of the loan with a judgment lien, if the judgment is more than $500.00, being filed against your home. Pursuant to Rule 69, Tennessee Rules of Civil Procedure, action can then be taken to enforce the judgment lien by having the court order a judicial sale of the home.

With respect to your vehicle, a levy can be issued by the court to a law enforcement official to seize your vehicle, impound the vehicle, and then sell the car. This is highly impractical and expensive for the judgment creditor if there is a balance owed on any car loan that you may have. However, if you do not have a car loan, the car can then be taken and sold.

Likewise, other property you have can also be taken and sold such as furniture, computers, televisions, boats, tools, etc.

In Tennessee there is a $10,000 exemption for personal property; however, to invoke the exemption in any judicial process you must file with the clerk of the court where you are being sued an affidavit claiming your exemption by which you specifically list the items that you are declaring as exempt; i.e., those items up to a total value of $10,000 that cannot be taken and sold to satisfy a judgment debt.