Good morning Robert JDFL I have a few more questions please. In my previous question, I was concerned the HOA could take his car for his outstanding balance due which I don’t think he can pay back. Well I talked to Mike our son and I first thought he owed the HOA $12K but now he says he only owes the HOA 3K and the more realistic value of the Ford Taurus we purchased for him is worth about $4500.00. 1. So does this change your previous answer since now the car is worth more than the debt by $1500.00? 2. You said it is very expensive for the HOA to levy a vehicle to satisfy a judgment, so much money approximately is involved to levy a car to satisfy a judgment? 3. He also has a $20K student loan from about 10 years ago that he has not paid anything towards or very little if any. What will eventually happen if he never pays this back? 4. And last he and his wife walked away from his Condo which was upside down. It is now in foreclosure. Loan is at $90K but the condo is worth maybe $60K at best. So what can Green Tree Lending (Mortgage Loan Company) do to Mike if they sell it at a loss of $30K or more short of the loan value? 5. Mike filed bankruptcy about 5 years ago so how long before he can file for bankruptcy again if he needs to go that route. (By the way he filed bankruptcy on everything except not his Condo for some reason?) Thank You Russ XXXXXX
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).