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I have a judgement against me for over $10000; they are asking for a payment history on my car. Can they take that away from me?

Business 5 views 1 answers
I had to close my business in late 2009. I owed the IRS about $18000 and a supplier over $10000. The IRS has put me in "non-collectable" status until 2017. I recently went to court over the supplier bill and they were awarded a judgement against me for the $10000. I only make $1200 a month during the school year and my spouse only has a part time job (but is not party to the lawsuit). I got a legal document today that looks like they are asking TOYOTA for a payment history on may car - it was bought used through their finance company. I owe more ($14K) than Kelly Blue Book says it is worth ($11K). Can they take my car for the debt (but make me keep the payments)? Why would they need to know? Doesn't the IRS always trump other creditors if I can afford to pay the debt? Thanks.

Attorney Answer

1
George Henderson ·
Your car and many other assets can be claimed as exempt from execution. you might also be able to declare the debt in a liquidation bankruptcy. Consult a debt collection attorney.
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