liqidation
The chapter that typically follows a debtor's surrender of nonexempt property for division among creditors is Chapter 7 bankruptcy. In Chapter 7, a trustee is appointed to liquidate the debtor's nonexempt assets to pay off creditors.
Simon Property Group is based in Indianapolis, Indiana
Simon Property Group is based in Indianapolis, Indiana
State laws govern how creditor lawsuits are adjudicated. In general,lif the creditor wins the suit (and they probably will) they receive a writ of judgment which can be executed against the defendent's nonexempt property. A writ can be used to garnish wages, levy bank account(s), place liens against real property, or liquidate any nonexempt property....Macky (macky83@juno.com) your screw'd
The way or origin of how you got it is unimportant. What it is carries. A gift of your dinning room table or work tools are exempt - because these things are exempt. A gift of your boat, vacation house, lear jet, still wouldn't be.
Simon Property Group is based in Indianapolis, Indiana
Simon Property Group is based in Indianapolis, Indiana
It depends on what state you live in. Possible actions are wage garnishment, bank account levy, property lien, or liquidation of nonexempt assets belonging to the debtor.
No. There is no common law marriage in the state of Indiana. An unmarried partner has no legal interest in their partner's property.
Texas only allows wage garnishment if the debt cannot be collected by other means (bank account levy, seizure and sale of nonexempt property, lien against real property). Wages can be garnished when the matter is one of child support.
Nonexempt means one who is not exempt - for example, from paying taxes. This doesn't seem to make sense in this context, and I suggest you rephrase your question.