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Define your "assets" - anything that you have financed (home mortgage - automobile - boat - etc) can be seized by the lender due to the consent wording propbably contained in your borrowers papers. Anything else (bank accounts - investments - etc) would have to be done via court order.
What else can I help you with?
What is the purpose of a lien being placed against real property?
A lien prevents the property from being sold without paying off the creditor. After a certain period of time, it is possible to foreclose on the property, sell it, and collect the amount of the lien, the balance going to the property owner or other creditors.
What is a self help repo state?
A self-help repossession state is one where a creditor is legally allowed to repossess collateral without going through the court system. In these states, creditors can take back the property if the debtor has defaulted on the loan agreement. Self-help repossession states typically have specific rules and regulations that creditors must follow when repossessing property.
What is a Sheriff levy?
A sheriff levy is a legal process wherein a sheriff is authorized to seize and sell a debtor's property to satisfy a court judgment. This typically occurs after a creditor obtains a court order and the sheriff is tasked with enforcing it. The sheriff's office may auction off the seized property, with the proceeds going toward paying off the debt owed to the creditor. This process is part of the broader judicial enforcement mechanisms used to collect debts.
Can a credit card company garnish your wages without going through a court?
No. A creditor who hires a law firm that is licensed to do arbitration (such as Mann-Bracken Attorneys At Law) can circumvent the normal lawsuit process and have the account ruled on by the arbitration board. However, even using the arbitration process the creditor will need to file in the appropriate court in the state where the debtor resides to have a judgment entered. The ways in which the judgment can be executed against the debtor's property depends upon the laws of the debtor's state.
Can residential property be levied to pay a debt?
No levy may be placed on a home or even a garnishment made unless the creditor has obtained a judgment on the debt through a court. The judgment automatically becomes a lien of property the debtor owns. The creditor then attempts to levy on the property threatening to sell it to pay the judgment debt. Some states force a judgment creditor to go after personal assets like bank accounts first before going after real estate. In that way although the lien is there, the levy cannot yet be made.
What is the foreclosure sale date?
it means giving date by court to lender property is going to sell or date is given by when property is going to bet
Can an executor sell property without going through the probate process?
No, an executor cannot sell property without going through the probate process.
is it legal to evict a tenant without going to court ?
The only way you can evict a tenant without going to court is if the tenant leaves voluntarily. Otherwise, you cannot use self help and simply go in and remove their property or change the locks. You are required to go to the landlord tenant court and obtain a court order in order to evict someone. An order will only be entered after the court schedules a hearing and notice of the hearing is given to the tenant.
If an offer on a property that is not having the mortgage paid because the owner is going brankrupt how does the potential buyer stand legally?
If the owner has filed bankruptcy the property cannot be sold. It is in the legal possession of the trustee in bankruptcy who cannot sell any property without the permission of the court. You can contact the court for the name and contact information of the trustee and direct any questions you may have to the trustee.
Can a 15 year old be emancipated without going to court in new york?
No you have to go to court.
Why does someone go to jail because of a Writ of Attachment?
A Writ of Attachment is a court order that allows a creditor to seize a debtor's property to secure a potential judgment in a civil case. If a debtor fails to comply with the court's order or attempts to evade the process, they may be found in contempt of court. This contempt can lead to jail time as a penalty for not complying with legal obligations or resisting the court's authority. Essentially, going to jail in this context is a consequence of not adhering to the directives set forth by the court.
How long does a creditor have to pickup a voluntarily surrendered vehcile through a bankruptcy?
There may be a local court rule on the issue, but there is no statutory limit. Chances are, if the car has not been picked up, the creditor is going to abandon it. Your lawyer should be able to move the creditor along in making a formal written decision to abandon or get the the vehicle.
