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kbg1004
May 17, 2011, 05:29 AM
I have been served a "Notice of Right to Have Exemptions Designated" for a defaulted car loan. Where do I list my banking information so that I can protect what little I do have?

Thank you for your quick help!

JudyKayTee
May 17, 2011, 06:08 AM
Where? What State? What you can protect (and the amount) varies.

AK lawyer
May 17, 2011, 06:41 AM
I have been served a "Notice of Right to Have Exemptions Designated" for a defaulted car loan. Where do I list my banking information so that I can protect what little I do have?

Thank you for your quick help!!

Let me make sure I understand your situation.

Someone sued you because you were not able to pay a car loan. A default judgment was entered against you. Then, you were served with a "Notice of Right to Have Exemptions Designated". Is this correct?

As Judy Kay Tee has said, we need to know what state you are in. But, pending that information, several possibilities come to mind:

The judgment creditor has also levied upon something of yours, perhaps some item of persoal property, and was required to also serve you with this notice.
Alternatively, it could be a trick on the part of the judgment creditor to get information from you. Normally, a judgment creditor is presented with the task of finding out what assets you have before they can seize that asset. For example, without knowing what bank you have an account with, it would be very difficult to garnish such an account.

So I would be reluctant to give them exactly what they need, your banking information, especially unless you are directly asked that question.

Do you still possess the car for which the loan was made?

JudyKayTee
May 17, 2011, 07:30 AM
I am reading that the only way to shield assets (specifically in Illinois) is to furnish the creditor with this form, listing the exempt property. Illinois Pro Bono | Money and Property Exempt from Judgments (http://www.illinoisprobono.org/index.cfm?fuseaction=home.dsp_content&contentID=357)

Here is Connecticut law - http://law.justia.com/codes/connecticut/2005/title52/sec52-361b.html

Agree it could be a ruse but the form could also keep assets from being seized and then fighting for their return.

kbg1004
May 17, 2011, 10:51 AM
I live in NC. Yes you are correct, I defaulted on a car loan, judgement was entered and now I have been served with this paperwork. I feel that this is a tactic to find what assets I do have, which is not a lot. Referring to my bank account, I mean my persoanl checking account.
The car in question was repossed and sold at auction over 3 years ago.

Thanks,
KBG

JudyKayTee
May 17, 2011, 02:07 PM
Here is what is exempt in NC - GS_1C-1601 (http://www.ncga.state.nc.us/enactedlegislation/statutes/html/bysection/chapter_1c/gs_1c-1601.html)