Home > Research Legal Advice > Debt Collection > "I live in Mecklenburg County, NC. I just received a writ of execution f...
Asked about 1 year ago - Huntersville, NC
FlagThe amount of the debt is $9334.73 including penalties and fees. I do not have the funds to pay this. In March 2012, I mailed in my "Notice of Right to have Exemptions designated" form which I answered honestly. My bank accounts are minimal, under $500. My total equity in my home is less than $1000 and total possessions, I honestly feel are well below my exemption limit as stated in NC law. I am searching for advice. Is this writ of execution looking for a quick money grab? Are they looking to repossess my vehicles and durable goods to auction off? Please advise.
Saying that you "answered honestly" tells me nothing about your situation or your assets. The writ of execution is issued after your exemptions are filed. If no objections to your exemptions are filed (and you would have been notified of a hearing if there were) then whatever you put down stands. That property is off limits. If you truly have $1000 equity in your home and if your other possessions are under the limits, then the creditor will not get very much. Many people are in the same boat. The sheriff may try to pressure you to agree to make a payment arrangement, If that happens, stand your ground. The sheriff is not supposed to be working as a debt collector and just politely tell the deputy that you have no resources for a payment plan.
I hope you exempted your bank account. If you did not, then I would get your funds out of your account now and get an online or out-of-state bank account. $500 is too much money and they will grab it. I wouid leave less than $100 in your bank account.
I don't know what you put down on your exemptions so I don't know about your cars. Generally, the creditors want cash, not your pots and pans. They will resort to cars, land and bank accounts if not exempted. You are only allowed to exempt one motor vehicle with equity of $3500 or less. If you have more than one car, then it can be seized and sold. Sales do not bring in much money. They have to be advertised and the creditor must pay the sheriff for conducting the sale. So any items seized have to make it worthwhile. I have discussed this issue with colleagues and they feel that if a vehicle is owned free and clear and is worth more than $10,000 it is at risk. If its an older high mileage vehicle that is worth less than $3500, then it probably is not. However, this is just a ballpark figure - creditors can always get more aggressive so I don't want to mislead you into thinking your stuff is totally safe.
Its a shame that you did not contact me or another attorney sooner when you were first served with the lawsuit and exemptions. Next time, don't wait until you get served with a writ of execution in order to get help.
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