Re: why chat-- can they take my car?

Posted by Why Chat (209.240.222.130) on August 05, 2002 at 23:29:51:

In Reply to: why chat-- can they take my car? posted by joe on August 05, 2002 at 23:20:25:

If they sue you, and get a judgment, they can seize your car,sell it at auction and take the proceeds less your exempt amount. For instance, if you live in a State that exempts $1,500 of equity, and your 6 year old car has a wholesale value of $3,000.,they would get $1,500 from the sale & you would get$1,500.

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