Yes a lender can garnish your wages after a repossession. If the resell value of the item does not cover the cost needed to repay the lender, you are still responsible for paying the balance.
The lender may garnish your wages for a judgment against a debt in Illinois, even after repossession.
25%
IF they have a JUDGEMENT for the balance due, they can garnishee your wages. Income taxes?? NO
Any lender has to get a judgment before they can garnishee anyones wages.Then the debtor has to have wages before any lender can garnishee them. It is up to the lender whether or not they go that route in the collection process.
Social Security payments cannot be garnished at all. Pension payments sometimes can be, depending on a number of factors. Typically mortgage lenders do not garnish wages, though, they simply foreclose on the property.
Yes, after due process is followed in accordance with the laws of the state.
A lender can't garnish wages; that has to be done by court order. That can be accomplished, but usually only after the lender has made the cosigner responsible for the debt and failed to collect. After all, that's the responsibility of being the cosigner -- to provide payment should the primary borrower fail to pay.
The courts can if the debt wasnt repaid, the only way out is to setle or go bankrupt.
After the lender gets a judgment they can garnish your wages but they cannot getyour house unless you used it as collateral for the car loan.
If they were not part of the foreclosure deal, meaning that they didn't sign off on the short sale, then the loan is still outstanding. I suppose you didn't make the requested payments, so they are following up by garnishing your wages for payment. Check in with a real estate attorney, but you probably have a choice between paying up or having your wages garnished.
Payments are the entire balance due after the lender sells the car and YES, in most states they can garnishee your wages.