Wednesday, June 4, 2014

If someone gets a judgment against you can they put a lien on a car you own?

If someone gets a judgment against you can they put a lien on a car you own?
Unfortunately, the answer is: more than likely.

That is, if the vehicle you own is free and clear of prior encumbrances, for example - it is entirely paid off and you hold the title to the vehicle free and clear.

If you are in a situation where a lender can place a lien on your bank accounts, garnish your wages and place a lien on your tax refunds (varies from state to state), it is quite possible that the lender can "attach" your personal (auto, bank accounts, etc.) and real assets (as in real estate). Essentially meaning that if they (lenders) attach your property and you try to sell them off, they are likely to gain any profits (consideration = anything of value) from the sale.

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