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If a judgment has been issued for a repossession deficiency will it affect a 401K when cashed in and can they place a lien on your home which is homesteaded or take the money if it is sold?
Wiki User
∙ 18y ago
A judgment creditor cannot levy on your 401(k), but they can levy on your bank account and money from a 401(k) distribution would be vulnerable if it was in your bank account at the time the levy occurred. Filing a homestead does not prohibit a judgment creditor from filing a lien against your home. The judgment creditor can wait for you to sell or refinance your home. If there is enough equity in your home to pay off the mortgage and your homestead, there might be enough equity to be able to force a sale of your home.
Wiki User
∙ 18y ago
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Does a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
How does a repossession affect your credit?
It hurts it very badly.
What prolonged deficiency would affect thyroid?
A deficiency in the element Iodine in the diet.
Does a repo really hurt your credit for 7 yrs even if you pay what is owed fairly quickly?
Yes. First, the late payments on the vehicle will hurt your credit for 7 years. Then the repossession reporting will affect your credit for 7 years. Finally, any collection judgment filed by the tow company (if applicable) or lender will hurt your credit for 7 years from the date of the last activity (not date it was filed). Paying the deficiency quickly may keep you from having a judgment filed, but the repo still occurred and will still be reported.
How does chapter 13 affect deficiency of judgment if foreclosure is emminent and house is unwanted?
Surrender the asset (house) to the mortgage holder. Any deficiency will be added to the chapter 13 plan to the same extent as other unsecured debt. You may want to convert to a 7 if the 13 was to try to save the house.
How bad does a car repossession affect your credit report?
A Lot.
How does pyruvate kinase deficiency affect the body?
PKD is caused by a deficiency in the enzyme, pyruvate kinase.
How does it affect your credit or obligation if your repossessed vehicle was stolen from the lienholder?
The repo will effect your credit. The judgment the lender will get will effect your obligation to pay the deficiency balance. the letter wont effect anything UNLESS the car WAS stolen.
How long does a voluntary repossession affect your credit rating?
7 years.
When your Father passed away how bad will a car repossession affect a cosigners credit?
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
