Legal Question in Credit and Debt Law in Missouri

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?

Asked on 1/29/10, 6:53 am

1 Answer from Attorneys

Anthony Smith LawSmith
0 users found helpful
0 attorneys agreed

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.

Good luck

Read more
Answered on 2/03/10, 1:26 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Missouri

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Glen AshmanAshman Law OfficeAtlanta, GA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now