After A Information Subpoena

What is the name of your state? NY

I have just received an information subpoena for a judgement against me ($2500) from 06/27/03. I plan on answering the questions and sending it it, but I was wondering about the process after this is done? I'm guessing this is in preparation for the repo man to come calling?

If this is the next stop, I have a few things that I really have no problem taking, but I'm currently doing freelance work with the only true piece of property that I value: my computer. I have noticed that PCs are not exempt as property they can take in NY, I was wondering if taking it can be avoided because:

1) Its a system I built myself (although I'd guess they can take the parts) about 4 years ago

2) Its currently my primary source of income.

What might I expect the turn-around time to be for the creditor to respond after they receive my information? Also, would there be any reason that I COULD give up exempt property (ex. my stereo, etc.)?

I was able to setle on judgement, and after this I got one mroe to go and I'll be nearly free...the last one wiped me out, so I think I'll have to give up some stuff.

Thanks for any help you can give

[Ladynred]

Computers are personal property and fall under those exemptions. As you probably know, they depreciate VERY quickly in this fast tech market. Its not worth what it cost you to build.

If they have a judgment, and they have sent interrogatories looking for your financial info, then their next stop is grabbbing for wages and/or non-exempt assets.

The big problem here is you're self-employed. As such, they can garnish the WHOLE thing when your client pays you - its considered receivables and the rules are a bit different

Thanks again Ladynred

Honestly, at this point, I don't mind if they take the wages from my work. I was figuring on calling them to see if I can work something out anyways.

By any chance can voluntarily I give up some personal property, even if it is exempt? There are some things I can do without

Thanks again

[Ladynred]

You can sell exempt assets... and if they get the money, why would they bitch ??