It would be best to get a good lawyer and discuss it with him. You will continue with your normal life but go to court.
they will take your money and repossess your belongings
Thier actions, or lack, do not effect your ability to file for bankruptcy.
Even if a credit card company sues you and wins, the judge can only say that you do owe the money. He can attach a lien to your credit file which would prevent any new creditors from granting credit until the debt is taken care of. If you are in bankruptcy the rules change, each state has different laws. If the credit card company sues and receives a judgment in their favor your wages can be garnished up to an amount set by your state's laws.
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
Yes, if the creditor sues the debtor and receives a judgment, the judgment can be used as a wage garnishment to collect the debt owed.
they will take your money and repossess your belongings
Thier actions, or lack, do not effect your ability to file for bankruptcy.
Even if a credit card company sues you and wins, the judge can only say that you do owe the money. He can attach a lien to your credit file which would prevent any new creditors from granting credit until the debt is taken care of. If you are in bankruptcy the rules change, each state has different laws. If the credit card company sues and receives a judgment in their favor your wages can be garnished up to an amount set by your state's laws.
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
Generally, it will sue (or sell the debt to someone who will sue) within the statute of limitations for suing on a credit card debt in your state. This is often 5 years, but it can be less or more.
Yes, if the creditor sues the debtor and receives a judgment, the judgment can be used as a wage garnishment to collect the debt owed.
If you're talking about a credit card charge you disputed with the credit card company and the credit card company determined the dispute in your favor generally no. The other question you have to ask yourself however is if you received a good or service in exchange for what you charged to your card? Just because the credit card company determined the dispute in your favor and charged back the company, they don't lose the right to sue you or send you to a collection agency for a good or service you received. If the company sues you in court, they may be awarded the chargeback fee in addition to the amount owed in order to cover all damages that you caused them.
If the collector sues the debtor and is awarded a judgment the judgment can be executed as a wage garnishment.
Yes, if the lender sues the debtor and receives a judgment award, the judgment can be executed against personal or real property owned by the judgment debtor.
No they don't. If a credit card company is threatening to that, it is an illegal tactic and you may want to contact your state's attorney general to file a complaint. Most credit cards are unsecured, which means their are no assets guaranteed to be exchanged if the note is called and the money is not there. Some credit cards are secured; but they are secured with an actual cash deposit that you prepaid to them before they issued you the card. If the credit card company sues you for an unpaid balance and they win a judgement, they will then takes steps to garnish your wages to pay the judgement. Of course, it may be better to sell some of those assets you purchased with the credit card to repay the balance rather than face a wage garnishment. In a garnishment, your employer will be sent an order to withhold an amount from your paychecks to be sent to the court. The court will then issue the money to the judgment holder.
Yes. A car can be taken for a credit card debt if the creditor sues you in court, is successful and obtains a judgment lien. The creditor can use that judgment lien to take any property you own including your home and your car and your bank account.
Pay the debt!