Step 13: How to stop a garnishment
The judicial attachment is a legal act that consists of the right that the creditor has against its debtor to exercise and ensure the collection of the debt on the debtor’s assets. Said right, being a lien, has its origin in a judicial order within a judicial proceeding by means of which a judicial authority specifies the assets, whether movable or immovable, to be reserved in order to cover the credit subject matter of the trial, so its main purpose is to prevent the debtor from getting into a state of insolvency, decreasing its payment capacity and thus evading its obligations.
In the event that the assets that have been seized are movable, such movable assets will be temporarily seized. They will remain in the custody of a trustee, who will be responsible for such assets during the judicial proceeding.
It is important to note that a judicial seizure puts the ownership of your property, whether movable or immovable, at imminent risk. It is essential to have a strategy to prevent your property from being seized, or, if your assets are already seized, to act immediately by renegotiating your debt so that such assets are not auctioned during the execution stage of a judicial proceeding.
Seizure of Assets and What things can not be seized?
The self-employed entrepreneur is liable for the debts incurred in his business with his present and future assets, except in the case of limited liability self-employed. This means that if these debts are not paid, the assets can be seized. What can be seized and in what amount?
The furniture and household goods and the clothes of the executed party and his family, which are not considered superfluous, are considered unattachable. Also those goods such as food, fuel and others that, in the opinion of the court, are essential for the foreclosed party and his dependents to be able to provide for their subsistence with reasonable dignity. In addition, the books and instruments necessary for the exercise of the profession, art or trade in which the person being foreclosed is engaged, when their value is not in proportion to the amount of the debt claimed, are not subject to seizure.
In the event that the self-employed person receives a salary or a pension, only the amount that exceeds the minimum interprofessional salary can be seized. All amounts exceeding this amount may be seized according to the following scale:
WHAT TO DO IN CASE OF A SEIZURE?
The seizure is a judicial action, which consists of seizing the debtor’s assets, prior order of a court, with the purpose of liquidating them and with the proceeds pay the debtor’s creditors or pay with the assets themselves. In this article I will explain everything related to the judicial seizure.
The seizure or auction of the seized assets will not take place if the debtor pays his debt. If, because of a seizure, assets are seized that do not belong to the debtor, but to a third party, the debtor must file a third party possession claim, so that his assets will not be auctioned off.
If you are not a debtor and your assets were seized because of someone else’s debt, you must get a lawyer to file a third party action for possession or ownership, so that the seized assets are declared to be your property and not the debtor’s property.
The payment request consists of the delivery that must be made to you if you are the executed party, either personally or not, of the copy of the executive demand, the resolution that provides it and the writ of execution and seizure, then, it is not the notification since this is made in another way and it communicates the executive demand to you.
Seizure of assets due to debts, what to do in that case?
Complying in due time and form with the tax obligations in a certain way brings peace of mind to taxpayers and allows them to occupy their minds in their own business activities; however, if they omit them, they may be subject to the notification of tax credits, which once they become firm, the authority may seize their assets.
In order for the tax authorities to enforce the seizure, they will first require payment from the debtor, and only if the debtor does not prove that payment has been made at that time will they proceed immediately to seize the assets:
Taxpayers must know which assets are and are not subject to seizure, so that they can defend themselves in case the executor tries to seize those that are not subject to seizure; likewise, they must be aware that in case they do not pay the contributions, the authority may practice a seizure, which derives in the detachment of the assets and even of the same negotiations.