Re: Re: Car Repossesions
crk8766 said:
Thank you for your reply, I have another question for you, if you would be so kind as to answer, they filed a judgement against me after they auctioned off the car, but I never paid them another dime after they took possesion, now every few years I get served with papers that headline "NOTICE OF RIGHT TO HAVE EXEMPTIONS DESIGNATED" from and attorneys office. Can they keep renewing this and keep trying to collect money from me? Your reply is greatly appreciated. Thank you
My response:
Well, then . . . it appears that they do, in fact, have a judgment against you - - that they did file a lawsuit against you, and they won. What's being sent to you now are papers to tell them that certain property, wages, or bank accounts are exempt, by law, from attachment.
You are about to have a garnishment placed on your wages and / or you may be being Summoned to Court for a "Debtor's Hearing".
I would strongly urge you to have those papers reviewed by an attorney - - because it is apparent that you have no clue as to what's happened, or what's going to happen, to you.
You see, a judgment is good for 5 years from the date of the judgment, and renewable for another 5 years - - for a total of 10 years. And, that judgment accrues interest at the rate of 10% per year. So, the total amount just keeps going up and up. For them, it's better than having money in the bank because what bank, that you know of, gives 10% interest ?
Good luck to you.
IAAL