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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
3 Answers
- TiLv 71 decade agoFavorite Answer
First check to see if the debt is still within statute. The NH statute of limitation on debt is only 3 years. If that is the case, answer the summons and use the statute of limitation as an affirmative defense.
As long as the equity in your vehicle is less than $4,000.00, it is safe from creditors.
- EdaphosLv 41 decade ago
The good news is wage garnishment doesn't seem to be used in NH ( http://www.fair-debt-collection.com/state-wage-gar... ).
The bad new is the can take your car (unless someone else has a lien on it).
- ?Lv 71 decade ago
No. They can and will get a judgement against you but since you need a car to get to work you won't have to sell it. They can garnish your paycheck, though.
