My vehicle was towed legislation update
Pete has information about my vehicle was towed prospective legislation.
One motor vehicle not exceeding four thousand dollars in value above liens and encumbrances of the debtor; if such vehicle has been equipped for use by a disabled debtor, then ten thousand dollars in value above liens and encumbrances of the debtor; provided, however, that this exemption for one motor vehicle shall not apply if the debt enforced is for child support, spousal support, maintenance, alimony or equitable distribution, OR IF THE STATE OF NEW YORK OR ANY OF ITS AGENCIES OR ANY MUNICIPAL CORPORATION IS THE JUDGMENT CREDITOR;”
What this means:
Well, It’s good news for me, because I still have a job. It’s bad news for scofflaws. The City Marshal tow program won’t be affected by the bill.
Basically, what this does is protect those of us that have car notes and just can’t make those payments. Repossession Agencies and banks will take the brunt of the hit.
A tip of the hat, and a hearty “thank you, Pete” for sharing your perspective, thoughts, and valuable information. We look forward to the next installment.
Here’s a link to Pete’s first article, if you missed it.
I suggest you check out this helpful guide to towing in NYC.
Please share your thoughts and reactions. C’mon, don’t be shy.
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