Question
A loan company successfully sued its customer Dorian and obtained a judgment for $150 000 after Dorian failed to repay a loan. The value of
A loan company successfully sued its customer Dorian and obtained a judgment for $150 000 after Dorian failed to repay a loan. The value of all of Dorian's assets is only about $100 000. Which of the following statements is true about the steps the loan company can now take against Dorian?
A)The loan company can seize all of Dorian's assets and apply the proceeds to toward the judgment.
B)The loan company cannot seize any of Dorian's assets but can garnish his bank account.
C)The loan company will be limited in its ability to seize Dorian's assets because some assets may be exempt from seizure to ensure Dorian is not left destitute.
D)If Dorian is not able to pay the entire judgment, the loan company will collect from a public fund set up by the government.
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