Can your wages be garnished for your spouses repossession 6 years ago?
Brian, were you the co-signor on the loan??? Otherwise, NO. How could you be responsible for someone else's debt? YOU would have to sign the loan. Sounds like a collector trying to smoke ya...
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
My fiance is currently having his wages garnished from Washington State while he is employeed in the State of Texas. He isn't employeed by the State but with a private business in Texas. He lived and worked in Washington State for about 10 years with the garnishment pending before action was taken. If you can get it paid off before they start taking it, that's the way to go.
All US states have a statute of limitations concerning the collection of debts. The longest SOL is 6 years, that being the case it is unlikely that the court would allow a creditor or collector to file suit in an eleven year old case. Be advised, it is the responsibility of the debtor to use an expired SOL as a defense when faced with a lawsuit. Wages cannot be garnished without a valid judgment having…
Can a mobile home finance company place liens and garnish wages after repossessing a mobile home or can you just leave it as a bad debt that will haunt you for 7-8 years and then go away?
After the mobile home is repossessed they will try to sell it. You will be liable for the difference of what you owed less what they got for it. They can sue you for that amount and if they win a judgment against you they can place liens on property or your person, sieze bank accounts and garnish wages. Wages cannot be garnished in TX, PA, NC, or SC. No debt EVER just 'goes away'…
That is called voluntary repossession. You will be required to pay the difference in what the lender sells the vehicle for and the balance on the note after that amount is applied to the loan. You did avoid repossession fees by voluntarily turning the car in. Your credit will also show this repossession for 7 years.
Apparently so. I got my check yesterday and discovered $200 was garnished from Benton County for non-payment of fines from 1997, 16 years ago. I was never given a chance to contest the garnishment, object to it, or anything. no warning that it was going to happen, just got my check in the mail and it was $200 less than I expected.
How long will a repossession stay on your credit report if you've made arrangements to repay the monies owed?
The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.
When health insurance plans ask you how much you think your income will be in the next year is it before or after taxes?
Not typically, in fact in several years experience in the industry, I have never heard of such a practice. Repossession, beyond being a waiting game, is a game of opportunity. When the repossession agent finds it, he will take it. The last thing any of them want to do is give you prior warning that they are on your trail, and to give you the opportunity to hide it and make their job more difficult.
Yes. As long as the plaintiff has a valid claim against you, you can be sued and a judgment against you obtained. People with no assets are often referred as judgment-proof. This means that even if they are sued and a judgment against them is obtained, the plaintiff will not be able to seize any assets. But if you are working, you might have your wages garnished under the judgment. If a judgment against you…