Re: Levy

Posted by Why Chat (209.240.222.130) on August 08, 2002 at 20:36:04:

In Reply to: Re: Levy posted by Judy on August 08, 2002 at 08:02:44:

No, they can get a judgment, seize the car and sell it at auction IF they first paid off the balance of your loan.So if you owe $11,000 on a car that would sell at auction (wholesale value) for at least the amount of your balance, plus the amount of the debt, plus your exempt amount ($300.) you could lose the car now. That would be if you own a car that is worth about $40,000 retail. I really do not think you have to worry about it.

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