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Hi! My husband is a sole propietor and is being sued for not

Customer Question
paying dunn edwards paint co.The...
Hi! My husband is a sole propietor and is being sued for not paying dunn edwards paint co.The co has filed a suit against us because of the economy my husband wasnt able to pay back his obligation. We have equity in our house and I presume they are looking to put a lien on the house. How can we negotiate a different amount then they are asking for. It started as a 9500 dollar debt and has escalated to overXXXXXand attorney fees. I cannot have a lien on the house. it is the only thing that I have. I was not clued in on this law suit till recently.He has a demand for immediate judgement on feb 10. what can be done to arbitrate or negotiate a lesser amount.
Submitted: 5 years ago.Category: Business Law
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2/1/2012
Business Lawyer: Richard, Attorney replied 5 years ago
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 56,030
Experience: 32 years of experience practicing law and a businessman.
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Good afternoon. They are not going to be able to get the equity in your house unless there is a lot of equity. Under CA law you the following amount is exempt from creditors: real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & gross annual income under $15,000 or married & gross annual income under $20,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse.

 

 

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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have intricacies in their laws and any information given is simply information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 56,030
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Customer reply replied 5 years ago
How can I stop the lien? Can he ask for an arbitrator?
Business Lawyer: Richard, Attorney replied 5 years ago
They likely won't place the lien...let them know if they pursue this at all, and don't work something out agreeable to you, you will simply declare bankruptcy and get the entire judgment discharged. It's great leverage and they don't know whether you will or you won't.
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Customer reply replied 5 years ago
Actually, i did tell them that 3 months ago and we have recieved papers for immediate judgement in their favor on feb. 10 in civil court.
Business Lawyer: Richard, Attorney replied 5 years ago
If they do so, if the house is all you have, you should consider filing bankruptcy and wiping out the judgment.
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Customer reply replied 5 years ago
I have a heloc Ive been using to pay for the negative my husband generates. Is there anyway to negotiate with them at this point when they r already asking for a judgement in their favor.I cant afford an attorney. the fees are too high for us. is there anyway to argue this at the civil source on feb 10 like asking for more time or an arbitraitor to negotiate a price. Thank you.
Business Lawyer: Richard, Attorney replied 5 years ago
Yes...you can always negotiate at any point....even after a judgment has been awarded and even after they have placed a lien. You can ask for an extension, but unless you have good grounds, it likely won't be granted because the facts are not likely to change with the additional time. You're welcome.
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Customer reply replied 5 years ago
if i would like to ask u another question how do i ask for u/
Business Lawyer: Richard, Attorney replied 5 years ago
You can simply ask for me when you ask the question and I'll get it. Thanks. :)
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