IfI loose a case in civil court, can my property be taken for payment?
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IfI loose a case in civil court, can my property be taken for payment?
Asked on October 24, 2011 under Bankruptcy Law, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you lose a civil action where a judgment is entered against you for a specific dollar amount, and if you cannot enter into a written agreement with the judgment creditor for payment in full or in installments, the judgment creditor can try and levy upon your assets to satisfy the judgment.
Meaning, your property such as bank accounts, pay checks up to a certain percentage per pay period, stocks, bonds and other property would be up for grabs by the judgment creditor.
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