Nevada Debtor And Creditor Legal Questions

Each case is unique so do not substitute this response as proper legal advice.   If you filed your answer with the Court, then take the filed stamp copy and mail the copy to the attorney.  File with the Court a certificate of service in which you warrant that you served it by U.S. Mail.   Here is a link to a civil help center that may assist you.   Civil Help Center   I urge you to contact an attorney so you can obtain proper legal advice as time may be an issue in your case.   Brian D. Shapiro, Esq. 510 S. 8th Street Las Vegas, NV  89101 (t) 702-386-8600; (f) 702-383-0994 www.brianshapirolaw.com... Read More

The Nevada Supreme Court has held that Nevada's six year statute of limitations on the registration of foreign judgment commences to run on the date on which a valid foreign judgment is registered in Nevada.  A party may renew a foreign judgment as long as the judgment remains valid and enforceable in the issuing state.  Bianchi v. Bank of America, 124 Nev. 472, 186 P.3d 890 (2008).  The inquiry is a dual one—(1) whether the underlying foreign judgment, as renewed, is valid and enforceable in the issuing state and (2) whether Nevada must give such judgment full faith and credit even when Nevada's six-year limitation period for the enforcement of the original domesticated foreign judgment has run.  The enforcement of the Oregon Judgment as domesticated in Nevada is dependent upon the validity of the Judgment in Oregon.         ... Read More

Your brother is responsible for his own debts, which means now that his "Estate" would be arguably liable for his debts.  You are not personally liable for his debts merely because you are the closest living relative.  You have indicated that he had very few assets.  Nevada has a process where an Estate is valued at less than $100,000 that assets can be set aside without administration by court order. This requires that you file a petition for a Court Hearing but would not need to be appoinbted personal representative.  One downside of this proceeding is that you indicate that there is a bank account, which might require a personal representative be appointed for completion of financial transactions therewith.... Read More

Chapter 604A governs title loans.  More specifically, NRS 604A.455 governs repossession of vehicles by title loan companies and states that a licensee's sole remedy for default on a title loan is in the collateral, namely "the sole remedy of the licensee who made the title loan is to seek repossession and sale of the vehicle which the customer used to secure the title loan. The licensee may not pursue the customer personally for: (a) Payment of the loan, unless the licensee proves the customer prevented the repossession and sale of the vehicle by any means, including, without limitation, hiding the vehicle; or (b) Any deficiency after repossession and sale of the vehicle which the customer used to secure the title loan, unless the licensee proves the customer damaged or otherwise committed or permitted waste on the vehicle."  If your mother paid the loan balance in full, she is relieved of liability and was entitled to get her title back. NRS 604A.465.  ... Read More

The scenario which you are describing implies that you still have the title and are the legal owner of the vehicle.  Thus you can undertake any peaceful manner of collecting the vehicle as it remains legally your vehicle.  If you cannot peacefully recapture the vehicle, you can bring a court action for replevin of the vehicle.  You should understand that with your continued ownership of the vehicle comes the ongoing liabilities which ownership of the vehicle entails, including possibly questions of negligent entrustment of the vehicle insofar as he has been in an accident.... Read More

While ignoring legal proceedings is something which is commonly done, no attorney is going to advise you to simply ignore legal proceedings because judgments in the State of Nevada remain valid for 6 years and can be renewed continually so that (in effect) the Judgment never goes away.  The better strategy is to deal with the situation and creditor head on, to explain that you relinquished the vehicle and to explain any legal basis why you believe that you should not be liable for the deficiency balance.... Read More

The answer is that it depends on the circumstances.  What your lender is likely referring to is the assertion that, upon voluntary surrender of a vehicle, the fair market value of the vehicle may only be worth eighty percent (80%) of the outstanding loan balance, meaning that the Lender would be relinquishing (or taking a loss) to the tune of 20% of the loan balance.  This loss by the lender could be reported to the IRS as a taxable gain to you.  You should have your specific agreement reviewed by an attorney before entering into any such transaction.... Read More

You should consult with the Legal Aid service provider in your area or consult with an attorney to review your legal rights.  Candidly your rights will likely be largely determined by the Agreement which you signed.  Therefore it is always cheaper to consult with an attorney to keep you out of trouble than to get you out of trouble.... Read More

There are a couple of steps that you can take with these additional facts.  You can seek to have the transfer to the brother voided as being fraud in the inducement and thus have the Court declare that the brother never had an interest in the Subject Property.  However you should have counsel assist you under the complex circumstances which you have listed.... Read More

NRS 17.150(2) provides that a judgment becomes a lien on all real property owned by the debtor in the county in which it is recorded, unless the property is otherwise exempt from execution.  To the extent that the Judgment Debtor has any equity in the property, the lien would attach to the Judgment Debtor's interest in the property.  You indicate that the attorney on the Judgment is no longer handling the matter but should be able to provide contact information for the creditor.  In  the absence of such information, you could seek to quiet title regarding the respective interest of all lien creditors as against the Subject Property.... Read More

Since the suit was for over $10,000, you are most likely in District Court.  Your best course of action is to notify Counsel for Plaintiff that you intend to respond and attempt to obtain an extension of time to answer the Complaint or retain Counsel to obtain an extension and to attempt to negotiate the sum owed.... Read More

You have astutely investigated the statute of limitations relative to open accounts, which credit cards are presumed to be.  NRS 11.190(2)(a) provides that an action on any open account may only be commenced "[w]ithin 4 years. . . on an open account for goods, wares and merchandise sold and delivered."  The time in NRS 11.190 shall be deemed to date from the last transaction or the last item charged or last credit given; if payments have been made on the account, "the limitation shall commence from the time the last payment was made." NRS 11.200.  Statutes of limitation can be extended or stayed if "contained in some writing signed by the party to be charged thereby." NRS 11.390.  Conversely the statute of limitations for an obligation or liability founded in writing is 6 years.  NRS 11.190(2)(a). There is an exception to the open account analysis which the Nevada Supreme Court opaquely created 40 years ago however in El Ranco, Inc. v. New York Meat and Provision Co, 88 Nev. Ill, 115 (1972).  In that case, the Court looked at sales on an otherwise open account in which each delivery was memorialized by sales slips which acknowledging receipts, the Nevada Supreme Court stated that the action was upon obligation founded upon instrument in writing to which 6-year statute of limitations was applicable because when buyer signed sales slips, sales became consummated and the sales slips showed upon their faces both liability to pay and obligation to pay.  Therefore the existence of sales slips might be argued to create a claim not on the open account but on the underlying transactions.  ... Read More

In the State of Nevada, assets which are exempt from execution are defined under NRS 21.090 (they are also repeated in NRS 21.075 which sets forth the form for writs of execution). The exemptions which are often cited and utilized are (as simplified): Necessary household goods, furnishings, electronics, clothes and personal effect not to exceed $12,000 in value. One vehicle if the equity does not exceed $15,000. 75 percent of the disposable earnings of a judgment debtor during that week; Life Insurance benefits if the annual premium is not more than $15,000; A homestead in a residence pursuant to NRS 115.010 of up to $550,000 in equity; Security Deposits for Leases Monies not to exceed $500,000 in present value, held in an IRA or qualified pension plan; Child Support Spousal Support Personal Injury payments not to exceed $16,150 Payments received pursuant to the federal Social Security Act, including, without limitation, retirement and survivors' benefits, supplemental security income benefits and disability insurance benefits. Additional personal property and monies of $1,000. These are the things that a creditor will look for in order to determine whether pursuing collection of obligations against you is worth it. One more point, if the debt that you are concerned about avoiding is the deficiency post-foreclosure on your home loans, you should consult with Counsel to determine whether the lender (a) can and/or (b) most likely will pursue such a deficiency.... Read More

If you review your Cardholder Agreement, there is a good chance that the card issuer has the right to put a hold on your account.  However the demand for a form to release your tax returns is frankly highly irregular and a red flag that you should have someone scrutinize the demand for information.  Furthermore the high pressure that you must immediately fax sensitive financial documents sounds eerily like a form of phishing.  One thought on why no U.S. Mail is that the demand is coming from outside of the United States (which Electronic and faxes could redirect to mask).  My recommendation is that you be very very careful with this demand for information as it appears to have the hallmarks of fraud.... Read More

A writ of execution or writ of garnishment will only issue in Nevada after there is a lawful Judgment entered against you.  Once Judgment is entered (or domesticated), in Nevada you are to be served with a notice of the Writ of Execution pursuant to NRS 21.075 (Notice of writ of execution: Service required; form; contents)  This notice would advise you of a process by which you can contest the execution or assert any exemptions of property.  The Court would then conduct a hearing on whether the execution/garnishment was appropriate.... Read More

If you are not paying the agreed upon amount per your loan contract, then you are technically still in default and a lender can sue to obtain a judgment and garnish your wages. Student loan providers will typically garnish 15%. Depending on your disability your loans may qualify for discharge in bankruptcy. SSD can be garnished if you default on student loans, provided they are federally backed loans. I suggest you consult with a bankruptcy attorney in your state.   ... Read More