Ask Experts Questions for FREE Help !
Ask
    randyk's Avatar
    randyk Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jun 22, 2009, 09:16 AM
    Judgement and Sherriff taking car with lien still owed
    I have a judgement against me from a personally secured business debt. The sheriff came and towed my car yesterday to pay toward that judgement. Most of the principle on the car is still owed to the bank that gave me the car loan. Can the sheriff still sell the car? Does the bank (who is listed on the title as the lienholder) get paid first upon a sale of the car? Is there any way I can stop this sale of the vehicle?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    Jun 22, 2009, 09:43 AM

    Yes, the car can be sold and the lienholders are paid in order - obviously, Bank first, if there are no other liens the creditor second.

    I don't understand what you mean by "most of the principal" is owed to the bank. All of the principal is owed to the bank. Do you mean most of the loan remains unpaid?

    You can avoid the sale by paying the debt.

    If it's a "short sale" then you will owe the difference between what the car is sold for and what you owe the bank.

    Weren't you served with Judgment papers?
    randyk's Avatar
    randyk Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Jun 23, 2009, 07:04 AM
    Yes, I meant that most of the loan remains unpaid.
    I spoke to the sheriff's office yesterday and they told me that they don't even look at who are any lienholders on the title (in this case the only lienholder is the bank that I got the loan from) and that the lienholder will not get paid anything, and that I will still be responsible for paying the outstanding loan to the bank. All monies paid for the car will go to the person who initiated the judgement. Is that possible?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jun 23, 2009, 07:07 AM

    Not according to law. At a sale lienholders are paid in the order the liens were established. I suggest you contact the bank that holds the autro loan and let them know what's happening, they will probably have their attorney contact the sheriff.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #5

    Jun 23, 2009, 07:32 AM
    Quote Originally Posted by randyk View Post
    Yes, I meant that most of the loan remains unpaid.
    I spoke to the sheriff's office yesterday and they told me that they don't even look at who are any lienholders on the title (in this case the only lienholder is the bank that I got the loan from) and that the lienholder will not get paid anything, and that I will still be responsible for paying the outstanding loan to the bank. All monies paid for the car will go to the person who initiated the judgement. Is that possible?

    No. If the lien is properly filed it comes first. Another reason why the Sheriff shouldn't be giving legal advice.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Judgement lien [ 3 Answers ]

A few months ago a collection agency contacted me stating they represented a local hospital and they were sueing me. I contacted them and disputed the amount, but later realized the amount was correct. They offered me to make arrangements. A few days before the court date, I called and made...

Can they take my house for a judgement owed? [ 1 Answers ]

I live in North Carolina and have a judgement against me for a repossed car. I was served the judgement and was told they could take my house or anything they wanted is it true?:confused:

Placing a lien against a bank account for monies owed [ 4 Answers ]

I have loaned an individual $5200 and have not received a penny back. I do have a copy of her invalid bank account with her name, address and dollar value of the account. I sent the money to her to get the account placed on a valid status but have not received any of the money back as agreed. Can I...

Judgement lien against me [ 10 Answers ]

I just received a judgement lien against me last week from a debt I aguired before I was married... today this debt collector totally wipe out my husband's checking account.. my name is also on this account... can they do this? I don't work, so it was his pay that was in the account... and is this...

Lien judgement [ 28 Answers ]

I received a judgement with a lien against all property that was sent to the Register of Deeds.. I do not own a home at present.. I was married last year and this judgement is for a debt I had before my marriage.. how will this effect my husband's credit, his bank account, his wages and his being...

View more questions Search