Can my house be levied on by a creditor for a for a car loan?

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Can my house be levied on by a creditor for a for a car loan?

Got notice of levy by a bank that also has my mortgage (my name and my mom’s name are on mortgage). My only income is $1163 month disability. I, got an exemption form to mail back to the sheriff but not sure what to do. I owe $13,000 for my auto loan.

Asked on April 22, 2011 under Bankruptcy Law, Missouri

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Ok so the money you receive from disability is covered with the exemption form, correct?  Just read the directions on the form and then make sure that it is filed not only with the Sheriff but with your bank.  Now, the real property is a different story.  What the judgement creditor will probably do is to file the Judgement with the county clerk's office or the office of the registrar of deeds inyour county and the judgement will appear as a lien on the title.  The judgement will have to be satisfied in order for the lien to be lifted should you wish to sell or refinance the loan.  May I suggest that you seek help here form a debt counselor.  Perhaps a bankruptcy attorney?  Good luck to you. 


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