Only the State and Federal governments are able to levy your bank account directly. Creditors are generally not entitled to money you have in your bank account (either directly or indirectly) but can get a Judgment against you in which case some kind of garnishment could possibly be established. The fact that the money is SSI may not matter in the end.
Yes, a creditor can garnish wages even if a levy was lifted on the account. This would require a judgment and the court documents.
No. A creditor that wants to freeze the assets in a bank account must seek and be granted a court order. The order must then be served on the bank.
It is filed because a secured creditor (who has stopped receiving payments) wants to foreclose on the collateral of the loan/promissory note. It is filed because a BK filing prevents a creditor from trying any collection activity (the "stay"). So a creditor that wants to continue to collect/foreclose must seek court permission to do so- hence "relief" from "stay"
you're gonna have a load of debt.
It means the creditor wants its money and will pursue you in order that you pay that loan.It means the creditor wants its money and will pursue you in order that you pay that loan.It means the creditor wants its money and will pursue you in order that you pay that loan.It means the creditor wants its money and will pursue you in order that you pay that loan.
It means the original creditor has given up the account and sold it to a collection agency. It does not mean the debtor is relieved of the debt. Someone wants the money and they will get it, somehow.
If you have bad credit and want to apply for a car loan, be honest with the creditor. Let them know you have bad credit, but show that you have made consistent payments on particular bills recently.
The creditor is the lender. The bankrupt is the debtor. The lender never has to re-affirm he wants to get paid back.
"Is it okay to tell a credit card company or a collection agencey that you are filing bankruptcy if you are planning to do so in a few weeks?"[ Yes, they may ask the question anyway. However, don't be surprised if you receive correspondence suggesting you speak with a customer rep. about adjusting your payments. The last thing a creditor wants is to have an account holder file for BK. Remember new BK reform will become law in Oct. therefore filing a chapter 7 will be very difficult.
No. Only the person who signed the contractual agreement (in some cases, just activated the card) can hold the account. If another person wants to make payments on the account, that is perfectly acceptable.
a creditor cant take your auto, unless it the car lot you bought it from.this is an old trick used by creditor,for years.if your that worried about it put it in someone you trust name,
yes