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How do credit card judgments work?

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βˆ™ 2011-09-12 21:18:51

Best Answer

How a creditor judgment can be executed depends upon the laws of the debtor's state.

The preferred method is wage garnishment or bank account levy.

In most states it is also possible for the creditor to enforce the judgment to seize and liquidate non exempt property (bonds, stocks, etc.) belonging to the debtor and place a lien against real property.

For homeowner's it is very important that they know what the laws of their state concerning the homestead exemption in order to prevent a forced sale of the residence.

The best option is for the debtor to obtain legal advice or representation as soon as possible. Most attorneys offer free or minimal fee consultations to discuss the individual's personal circumstances.

If the individual cannot afford a private attorney he or she can contact the local branch of legal aid society.

Please be advised, all legal aid agencies have a waiting list and specific requirements for eligibility.

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βˆ™ 2011-09-12 21:18:51
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Related Questions

Where can one find information on credit card judgments?

One can find information on credit card debt judgments on the Nolo website. Additionally, one can find information on credit card judgments on websites such as AskDoctorDebt or ConsumerRecoveryNetwork.

Texas statute of limitations on credit card judgments?

The Statute Of Limitation for credit card judgments in Texas is four years. The Statute Of Limitations is a time frame as to when companies can sue you for money owed.

Does Texas law allow judgments by the courts to garnish wages for credit card debt?

Yes, Texas allows garnishment of wages for credit card debit

Endowments and credit card judgments can they put a judgment on my IRA or endowment policy?

The simple answer is yes, they can. I believe that only Military and Government pensions are immune from judgments and/or garnishment

What will you do if you can not get a credit card?

You have to work on your credit until you can

How do a walmart credit card work?

Do you use a pi number to purchase with the credit card or cash

What are the effects and consequences of not paying off credit card debt?

What are the possible consequences of not being able to pay monetary judgments against you.

How do you get judgments that are paid removed?

Judgments will stay on your credit report for up to 7 years whether paid or not. You can dispute your judgments to the credit bureaus by sending dispute letters to each of the credit bureaus. The credit bureaus will have to investigate the items and if they are paid they have a greater chance of being removed.

What statute of limitations for judgments on a credit report in Maryland?

Judgments do not have a statute of limitations on a credit report. They will stay on until they are paid off or satisfied.

How long do civil judgments stay on credit report in tx?

Civil judgments can appear on your credit report 7 years from the date they were filed.

How does web credit card processing work?

Credit card processing works on webpages when buying something. The credit card makes the order, it is processed through the card company and seller's webpage.

How does credit card factoring work?

credit card factoring is a form of cash advance between small business and the credit card companies to provide cash flow for the small business as they wait for the card purchase to clear the credit card company.

What do you do if the security code on your credit card doesn't work?

Call your credit card company and they will help you reset the code.

Do you need a credit card to buy something from amazoncom?

Yes you need either a credit card or an amazon gift card, debit does not work.

Does my credit card work in Egypt.?

Credit works well in every country for as long as your merchant has a device and your credit card must have the MasterCard, visa, JCB and other credit card provider logo's in it.

How do credit cards work?

Answeryou buy stuff, pay for it with your credit card and then pay the bill at the end of each month. A credit card is a convenient instrument to meet your financial needs. The credit card serves as an arrangement between the card holder and the lending institution. When you buy something with your credit card, the bank agrees to pay the store in your behalf. The bill will be sent to you in the form a credit card statement. Knowing how credit cards work will help you maximize its benefits and uses.

How does a wireless credit card reader work?

A wireless credit card reader works by using cell phone technology to transfer data over the air to credit card processors. You can learn more about how these devices work at the eHow website.

Can I get a credit card without any credit history?

You can get a credit card starting out with a small limit. If that still doesn't work look at getting a pre paid credit card to build credit. Bill payments on utilities are a great way to build credit.

Can credit card company place a judgment on IRA retirement account in ny?

No..IRA or just about any qualified retirement account are free from judgments.

How does credit card transactions work?

Credit card transactions work because they are electronically connected to the bank server. Contact your local bank you are registered with for more information.

How do secure credit cards work?

you give them money before hand and then they let you have a card with their logo on it (visa, mastercard, etc) as a credit card and they report to the credit bureau for you to establish credit

what is a good credit card company?

A good credit provider is one who does not nickel and dime you for every transaction you make on the credit card. I would work on your credit first and then try to get a card with a low interest rate and no fee to activate it.

Does the Kohls Credit card only work in store?

The Kohl's credit card only works in Kohls. It is not a major credit card and therefore can only be used at that store. Other credit cards are available for use at other stores.

Are credit judgments renewable in New York?