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If the vehicle is in your name, and the courts have issued an order to surrender or liquidate real property, yes.
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Can a creditor garnish your federal taxes to cover a defaulted car loan?
Not Unless It Was Court Ordered. Child Support & Student Loans Can Be.ANSWER: If a garnishment order is sent by the courts to garnish your wages your employer will most likely comply with the order. If some nut bag creditor tries to garnish your federal taxes it is unlikely the IRS will comply. As far as the IRS is concerned is that is their money and they intend to keep it.
If there has been a garnishment and you owe money on a car you turned in can they come in and take personal home furnishings to cover debt if you are unable to pay?
Garnishment refers to monetary recovery usually in the form of wage or bank account garnishment. Creditors are awarded judgments when they prevail in a lawsuit, judgments can be executed in several ways, garnishment of wages or levy of bank accounts, liens against real property and the seizure and sale of non-exempt property belonging to a debtor. All states have a set of exemptions that can be used by the debtor to protect real and personal property. It is highly unlikely that a creditor would attempt to enforce a judgment against items such as household furnishings even if the state exemption did not fully cover the items. Exemptions that are used to protect property against creditor attachment relating to a judgment are the same as those used in bankruptcy. There are also federal non-bankruptcy exemptions that can be used in certain circumstances.
Do you have to pay the balance owed after self repossession?
You pay what is owed after the creditor sells the car for. So if you owed 10,000 and the creditor sells it for 8000 at an auction, then you would owe the remaining balance.
If you are the cosigner and get your car repossessed how can they garnish your wages if you dont work?
You are absolutely kerrect. They cant get blood out of a tur-nip or a cat-nip... * Wage garnishment is not the only option that a creditor has to enforce a judgment. In the majority of states judgments can be executed against bank accounts, all non exempt property belonging to the debtor (in most cases,even that which is jointly held) and liens against real property. Property that is not protected by the state's exemption laws can be seized and sold by the judgment creditor to repay the debt owed. Social Security and pension benefits are not subject to creditor attachment, but the majority of states do allow unemployment benefits to be garnished.
If you have defaulted on credit cards can they seize the car you own?
Theoretically a creditor/plaintiff can sue, win a judgment and execute the judgment against non-exempt property owned by the debtor/defendant. If the state's vehicle exemption does not give adequate protection against a creditor judgment it could be seized and sold, but that is highly unlikely. Judgment holders prefer to use wage garnishment or bank account levy to recover monies owed, instead of the hassle of taking possession of real property and all the responsibility that goes with it.
Can Social Security wages be garnished to pay for a car repossession?
No, all SS benefits are exempt from garnishment or attachment for creditor debt of any sort.
What are the laws in the state of Texas regarding car repossessions and wage garnishment for a repossession?
In Texas, a creditor can repossess a car if the loan agreement has been defaulted. However, they cannot breach the peace during the repossession process. Wage garnishment for repossession is not permitted in Texas unless the creditor sues the debtor, obtains a judgment, and then seeks a writ of garnishment.
How can I fight the wage garnishment for a repo?
How can I fight a wage garnishment for a car repo that was purchase in the year 2000
In Ohio can child support and temporary alimony payments be garnished for a car that was voluntarily repossessed?
No, both are exempt from garnishment by a judgment creditor . Please note, the judgment debtor must claim the allowed exemptions they are not automatically granted by the court.
If you have a judgment against you and you live in Texas and don't have a house or car in your name can they take money out of your checking account?
Yes. Texas does not allow wage garnishment for creditor debt but it does allow bank account levy even if the account is jointly held.
Can an elderly person have her Social Security garnished because her car was repossessed and sold for less that what she owed on it?
No, ALL Social Security benefits are protected by both federal and state laws and are totally exempt from creditor actions. A creditor has other options than garnishment, if the person owns real property, although for most seniors any property will likely be protected under state laws.
Can you willingly repossess a car?
Unless you are a creditor, I assume you mean can you surrender a car to the lender in a voluntary repossession. If the creditor will do it, you can. Obviously it will depend on the mileage and condition of the car, but these days it is complicated by the state of the economy, so not likely. You can surrender the vehicle in a Chapter 7, where the creditor has no choice.
If you owe a creditor for a revolving credit debt and they found assets to your car could they repo your car even if you are in good standing with your car lender?
No. A creditor of this type cannot take action against any property until due process of the law has been followed. Which involves filing a lawsuit, winning a judgment, executing the judgment against any nonexempt property the debtor might have. The plaintiff might also have the option of wage garnishment or bank account levy, depending on the laws of the state where the debtor resides.
Can a creditor garnish your federal taxes to cover a defaulted car loan?
Not Unless It Was Court Ordered. Child Support & Student Loans Can Be.ANSWER: If a garnishment order is sent by the courts to garnish your wages your employer will most likely comply with the order. If some nut bag creditor tries to garnish your federal taxes it is unlikely the IRS will comply. As far as the IRS is concerned is that is their money and they intend to keep it.
In the state of Ohio can a person be arrested for not surrendering a car that was discharged in bankruptcy immediately?
You cannot be arrested for not surrendering a car. Make arrangements for the creditor to retrieve the car. If not, the creditor can repossess the car because the discharge terminated the automatic stay.
If the creditor tells you that you would have a zero balance if you give the car back how will this look on your credit when purchasing another car?
It will look MUCH better IF you can get the lender to put the"ZERO BALANCE" part IN WRITING before you give up the car.
Can the car lender reposses the car because of bankruptcy 7?
A creditor cannot reposses a car without BK court approval (i.e. relief from the automatyic stay). However, if you do not keep paying the car loan, a BK will allow a creditor to reposses the car.
