Yes. Contrary to what some believe, even though credit cards are considered unsecured debt, the CC issuer can pursue litigation in order to recover the debt owed. If the creditor wins a lawsuit against the debtor a judgment will be awarded and that judgment can be enforced according to the laws of the debtor's state. Some methods for enforcing a judgment are, garnishment of wages, levy of bank accounts, seizure and sale of nonexempt property belonging to the judgment debtor or a lien against real property. All states have laws that allow debtors to exempt/protect real and personal property from judgment execution. It is in the best interest of any debtor to be informed about such laws, in case they find themselves involved in a creditor vs. debtor civil suit.
Generally speaking, your assets, (current and future), as well as your income (current and future) can and will be subject to seizure (termed garnishment when wages) to satisfy the debt they get a judgment for. Obviously, they can (and as it is their business, very good at) using all legal methods to enforce the right, or compel you to pay...(of which there are many).
You will be entirely responsible for any costs they incur to enforce and collect the full amount of the debt, interest, penalties, legal fees, etc. too. So a small debt for something you bought can grow very large, very quickly. Of course, they may just sell the right to collect to a third party, but the result is the same.
And while you may feel you simply don't have anything to take (or even a wage they can garnish)...a judgment stays in force for 20 years (and can easily be renewed)...so you better want to be poor, have nothing and be worth nothing for a verylong time! It isn't unheard of for some collection agency to find you have an outstanding judgment from years ago...now that they see you have something...(a car, a house, a lottery winning...anything) and get their fee by collecting it with all the back interest.
Common sense should tell you, all these large, powerful, rich and influential banks and lenders have not become so by accepting "I can't/won't pay...what ya' gonna do about it" and not being able to collect their loans and the costs of doing so.
Your best served by paying, and if you really can't, contact them to work out a plan to do so you can live with.
Any assets you have such as property, automobiles, bank accounts or wages.
A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.
Yes, if they have or obtain a judgment against you for the outstanding balance of the loan, plus collection fees, legal fees, repossession fees, storage fees, auction fees, and any unpaid balance. Essentially, you could end up owing much more than the original loan, and if (when) they obtain the judgment, you will have no say in how they collect it. they can garnish your bank accounts, attach other assets with court order, and garnish your state tax returns as well.
No, child support cannot attach or garnish a 401K plan. They can only garnish wages earned and not employee benefits.
Because creditors may garnish your taxes, your bank account, other financial accounts, and may attach other real property with a court order.
No her assets become community (shared)
No, as there are no such procedures in place, though they can attach the account where it is deposited.
This begs curiosity as to why you would be aware that the creditor attempted to garnish an account where you have no accounts. Prior to serving garnishment of an account, the creditor will need to know that you do have an account or accounts at the bank. This is typically verified by the legal department or a skip tracer. If no account exists, or if there are no funds available to attach, the creditor will be notified, but there is no reason for a bank to notify you if no account exists. If you have no account at a bank, for all intents, you do not exist to the bank.
yes
No...not looking up the law for you. They cannot.
In most jurisdictions the bank can attach any other assets you have. They cannot attach assets you transferred LEGALLY prior to this action unless the transfers were made for the purpose of avoiding creditors. If that was the case they can seek a judgment to capture the property so transferred.
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