A judgment was entered against me for a credit card in collection in August 2009, I was, and still am, unable to pay. I recently received a "notice of levy" instructing me to fill out and return a "judgment debtor's claim for exemptiion." I have no income. I am single with no children. Nothing on the form seems to apply to me, but I do not want to err by not protecting my house [which I own with no mortgage] or any future income. Do I need to fill out and return this claim for exemption?
1 Answer from Attorneys
If you ar eeligible for an exemption, you almost always want to answer quickly. Unfortunately, you have a judgmetn and a house tha tyou own free and clear. The Creditor may be able to foreclose on the property and get paid from the proceeds. You get first $8,000 of equity, and anything above what it takes to reimburse the creditor.