Not very often, because it is usually not worth the hassle. The laws and procedures on this will vary by state, but most states allow you to protect a certain amount of the equity in a vehicle. In theory, the judgment creditor could get a writ and have your car taken and sold and an auction. However, unless there is enough to pay off the card loan and pay you the amount of your equity that the law protects, chances are that the creditor will not proceed with the sale of the vehicle.
Only if the credit card is assigned to the business as a company card.
It means that you have that on your credit report for 8 years and that they have the right to collect the judgment from you.
A person's wages can not be garnished unless a judgment is obtained in court against that person. People get sued all the time for credit card debt. Once the credit card company gets a judgment, then they can garnish wages.
Answer: If your credit card company obtains a judgment against you they may take any property of value that they can find.
yes, and its always against you
In this state a credit card judgment can not put a lien on a house. Other answers indicate that in other places it can. You will need to find out about the law in your area.
They go before a judge and explain how the payment for that credit card was not made and what is owed including collection costs. The cost of judgment is then added to the total and that becomes the collectors judgment. That stays on your credit report for a long time so avoid!
The short answer to this question is YES.
READ YOUR CREDIT CARD AGREEMENT If you fail to pay your credit card, you defaulted on the loan, it will go to a debt collection agency, and you can be taken to court by the credit card company, resulting in a judgment against you.
can a credit card that has won judgment against you seize other credit cards that are in good standing
No, unless the refund is directly deposited into your bank and the credit card company has a judgment and files a lien on your account. Not legal in many states.
Yes, a judgment creditor can execute the judgment as a wage garnishment.
If the bank is the one that has the credit card, they can associate the card with the account. This might be a violation of regulation E. However if the bank and the card issuer are not the same, they have to get a judgment and then go to the bank with that.
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
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.
7years from date of judgement
Yes, if you were prosecuted for it and a judgment was made against you.
Even if you have bad credit, you can still often find an easy credit card to qualify for. Depending on whether you have a poor credit history, or just no credit.
The credit card system is relatively vulnerable on the internet. However, purchases done with a credit card are often insured by the credit card company, check the policy of your credit card for details about this.
A company can seize assets doe to credit card default if they obtain a judgment through the court. You will be notified of the court date.
If the collector sues the debtor and is awarded a judgment the judgment can be executed as a wage garnishment.