I had a 25000.00 dollar judgement put against me. Can they take everything I own?

Full question:

I had a 25000.00 dollar judgement put against me now I was served with papers saying they want to collect on the judgement, everything I own and my child support, retirement and anything else You could possibly name. Can they do this?

• Category: Judgments
• Date: 04/07/2025
• State: North Carolina

Answer:

You might:

1. Repay the debt (make a deal directly with the creditor);

 

2. File a proposal to creditors; or

3. File for bankruptcy.

 

Unfortunately, once a creditor has instituted garnishment proceedings, the garnishment is difficult to stop without filing for bankruptcy. Many jurisidictions offer certain property exemptions to a debtor which will protect the property from the collection efforts of the creditor. In order to claim the exemption, the debtor must file certain paperwork with the court and creditor notifying both of the debtor's intent to exercise the exemption.

Please see the information at the following links:

http://definitions.uslegal.com/l/lien-of-execution/