If I have a financial judgment against me for $7045, can they force the sell of my home to recover this debt if it was a personal loan?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I have a financial judgment against me for $7045, can they force the sell of my home to recover this debt if it was a personal loan?
Asked on January 12, 2012 under Bankruptcy Law, West Virginia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have a judgment against you for $7,045, the equity in your home up to a certain amount is protected under your state's homestead exemption laws. However, despite the protection, your home could be subject to a sheriff's sale if the equity in it exceeds the homestead exemption amount in your state.
Given this scenario, I suggest that you try and enter into an agreement with the judgment creditor in wriitng to pay so much of the judgment for a full written release or an agreement to make monthly installments to pay it down.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.