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Judgment Against Property Without Income Proof In New York
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State:
Multi-State
Control #:
US-0025LTR
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Word;
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FAQ
Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.
In New York, state law protects a higher percentage of wages and a higher minimum amount per week than that stipulated by federal law 4. The New York State minimum wage of $15 an hour means that $450 per week is protected from garnishments, rather than the $217.50 under Federal law.
Personal Property Execution If a Judgment Creditor knows that the Judgment Debtor owns a car, truck, motorcycle or other personal property of significant value, the Judgment Creditor may file a Property Execution.
A creditor can search public property records to find out if you own a home or any other real property. If you are sued, whether to satisfy a debt or to recover accident-related damages, your home could be attached to the claim and taken to satisfy any unpaid obligations.
Key Takeaways. Being judgment proof typically means having few assets and little earned income. Creditors cannot seize the assets or garnish the income of someone who is judgment proof. Social Security, child support, and unemployment benefits are types of income that generally can't be garnished by creditors.
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There is no charge for filing or requesting a Property Execution. The judgment creditor may contact the Sheriff's Civil Department for the procedure to file an income execution or wage garnishment.Judgment proof means your income is a type or amount that is exempt from debt collection and you have no assets that a company has the right to take. If you have exempt income or property, a debt collector cannot take it to pay a debt, even if it has a judgment against you. A creditor can sue you to get a judgment against you. In New York, the law that governs property exempt from the satisfaction of money judgments is CPLR § 5205. According to New York law, you can attach a judgment lien to your debtor's real estate, whether they own a freestanding house, a condo, or land. Being "judgment proof" means you don't have income, cash reserves, or other assets a creditor can take to pay off a money judgment. Q: Q: How do I collect a judgment against a debtor who is "judgment proof" or otherwise exempt? First you must purchase a Transcript of Judgment from the court that issued the Judgment.
