Regular Contributor
Posts: 108
Registered: ‎04-06-2008
Re: Keeping a classic car as exempt

The classic car sounds like it didnt have a loan on it and he sold it to shield assets. If the creditor has a lien on the classic car then they can decide they want full loan value or the car.

The cop might have been with a recovery team to if the city requires notification for repossessions in their jurisdiction.

If the car doesnt run for some reason (no engine) then the value is hard to calculate.

If the car was sold, they wont get the car back usually they want the money.