Yes, if the original terms of agreement were not followed, a creditor could file a suit, win, receive a judgment and enforce the judgment in the form of wage garnishment. Even if the debt is "old" the SOL would more than likely not apply in this instance. Whenever a payment or in some states even an agreeement or inquiry is made on an account, the SOL restarts.
no they cannot
can they? yes. Should they? No. Will they?.....probably. Can you sue them for it?.....if you have the money for it, maybe
If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
Only if they actually took the charge off.
Call the creditor and try to work something out, until you can start making regular payments again.
Yes, if you have agreed that the house will be used for collateral.
Yes, furniture can be repossessed if you start making payments again after 6 months, especially if the missed payments are not caught up. The creditor can refuse the payment if court proceedings are already in progress.
Yes, your truck can be repossessed even if you are using it to earn an income, however, you can tell your creditor that you are earning money with your truck, and that if the creditor does not repossess the truck you will use that income to make payments on your loan. Of course, if you are not making payments, and spending all of your income on other things, then the creditor has no motive to let you keep the truck.
Same thing happened to me..... what does this mean? I have not heard anything back from original creditor and was making timely montly payments to collection agency... I am confused and a little scared
Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.
Yes, so long as you keep making the mortgage payments. If you stop paying, eventually the creditor will be allowed to foreclose on the property.
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
Hello, As per the information I have..... In Texas, you can only be garnished for state taxes, not for private debt. :) Thanks! This is not legal advice, just a friend helping another :)
All Social Security (SS, SSI, SSD) VA and the most other disability benefits are exempt from attachment by creditors. It is very important that such benefits be held in a bank account separately and no deposits of any other funds be placed in said account. If the person has reason to believe that a creditor may attempt to garnish the exempted funds they should let the bank and the creditor know that they are exempt under federal and state laws. Some creditors will garnish exempted property either in error or in attempt to coerce the debtor into making a payment agreement or settlement. It would be advisable to consult an attorney if it is believed there is a possibility of garnishment action. Most attorney's offer free or minimal fee consultations, or you might wish to contact your state bar association's legal aid organization.
Answer I seriously doubt if any one creditor can take your house especially if it's not paid off and you are still making payments on it. What a creditor can do though is force you into declaring Bankrupcy and at that point depending on how much money is owed on your home either the house would be sold and the money distrubuted amoungst your creditors or the bank where you got your mortage would re-sell the house.
Declaring bankruptcy prevents you from using credit cards, obtaining credit over $500 without contacting the creditor, and making payments directly to your creditor. Declaring bankruptcy is a very serious matter and is one you shouldn't choose to do without a lot of consultation on your financial providers part.
No its perfectly legal and if you are still making payments on it, that increases values.
Yes. The reaffirmation agreement allows you to continue to make payments on a secured loan and retain the secured property. The rejection of the agreement simply means the creditor can apply for relief from stay and repossess or foreclose on the property. If you have been making post-filing payments, the creditor may not bother and, in some states, under state law cannot proceed against the property.
No payments?? NO Hiding the car AND not paying?? Possible but NOT likely. NO, it is a CIVIL matter, not a CRIMINAL offense.
A co-signer is only obligated if you default on your payment(s). I can't think of why or how one could repossess the car otherwise. If however, you default, the co-signer will be obligated to the original creditor. Then the con-signer can sue you for the amount that is owed on the vehicle or the vehicle if they are willing to keep up the payments. They have to follow due process, which means filing a suit, serving summons, the hearing, getting a judgment, acting on the judgment and so on, and so on.
If you weren't making your payments yes. It would only be repossessed if you weren't making your payments.
No, at least not in the United States. The only debtors prison we have is for child support. However, they can garnish your wages. If you are having trouble making payments, contact your servicer or guarantor for forbearance or deferment options.
Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.
The liability on the note itself can be discharged, but the lien on the property remains- in other words, the creditor cant use the courts to collect the debt, but he can take the secured property if you stop making payments.