What qualifies a person to be judgement proof?

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.