Motor Vehicle Levy Questions

[ppnj4]

My husband and I were served by the Ocean County Sheriff's Office a levy upon my vehicle. The presenting officer told us that it meant IF we sold the vehicle we were required to provide the money to the creditor. The writ of execution says nothing as to whether they will just come and take it or if we have to provide the profits if we sell it.

My questions are:
1) Will they just come and take it or
2) Are we required to provide them the profit if and when we sell it?

MOST IMPORTANTLY:
3) At the point were we have already been served can I give the car away or
4) re-register the car in someone elses name if I still have the title in my name?

5) The debt is worth $8k but the car only kbb's at ess than $2k; if they do take it will it satisfy my debt in full?

Any answers would be greatly appreciated as we are time sensitive and don't have the means to hire a lawyer.

 

[Michael Wechsler]

This is mostly an answer involving common sense:

1) Getting served with a levy isn't a joke. There is no profit here and there seems to be a lien on the vehicle. I don't know if the vehicle can be repossessed but the proceeds of the car are supposed to go to someone else.

2) I don't know for sure but I'm wondering whether transferring title might present a problem with the DMV.

3) Why would $2,000 of proceeds satisfy an $8,000 debt? Basically the creditor is trying to get whatever money he can find from you while you still have assets.

I don't think there is any easy way out of this. If you are over your head in debt you may want to look into bankruptcy protection for your necessities. I don't know the specific situation but evidently your creditors are on your heels.