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About Regan Shinski
Expertise
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience
Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

You are here: Experts > Business > Corporate Law > Collections Law > exemptions from garnishment

Collections Law - exemptions from garnishment

Expert: Regan Shinski - 11/14/2009

Question
I live in Florida and am currently unemployed and collecting unemployment.I have approximately 65000.00 in credit card debt with various cards that have not been paid since 2007.I do not see any way to repay these debts and am wondering if a judgement is obtained what is at risk for them to take. I currently pay a mortgage and own two cars free and clear. the newest is a 2000 Camery and the oldest is a 97 ford f150 given to me from my father when he died.I realize that I could probably qualify for a chapter7 as a last resort and wondered if they can still sell assets under that chapter.

Answer
Hello Lee:

Certain things are at risk. You can claim up to $1,000 in personal property, primary place of residence, and up to a net +$1,000 on a vehicle. I think that puts at least one of your vehicles at risk, possibly both depending on their value. Additional protections are also in place like health aids, disability income and related assets. Please see more at this link:

http://library.findlaw.com/1998/Dec/1/126478.html

Hope this helps :) Good luck.

Regan
mbscompany@aim.com

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