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asset seizure for debt in NH?
I have a collection agency taking me to court for 12K$ The only asset I own is a vehicle worth 10K$. Can they legally take it from me or make me sell it. I live in NH
1 Answer
- Dan BLv 71 decade agoFavorite Answer
Probably not unless the car was used as collateral for the debt. Otherwise, the only thing the court can do is order you to pay the debt (if the debt IS yours AND the debt is not beyond the statute of limitations for collection). Your wages are a good target for satisfying a debt through garnishment.
Cars depreciate in value so much that they are seldom targeted for their equity. Homes on the other hand are better targets. You can't sell your home unless the lien is satisfied.
