Legal Question in Credit and Debt Law in Utah

Re: Attatching profit sharing

If they have a money judgment against you they can have a sheriff execute on all non exempt assets. I assume that would include a profit sharing plan in Utah.

Re: Attatching profit sharing

If you do not make your payments, the house will go into foreclosure, and if you do not sell it or make an agreement to turn the house over to the lender in lieu of foreclosure, the house will be sold at a foreclosure sale. The difference between what the house sells for and the amounts you owe is called a "deficiency." The mortgage company can sue you for the amount of the deficiency. If you do not declare bankruptcy, then after the company gets a judgment then can attach your income and assets. If your profit sharing is not considered retirement funds, it can be attached. If you declare bankrupcty the debt will be discharged in bankruptcy.