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If a credit card company takes you to court and wins and you cannot pay what can they do?
Wiki User
∙ 14y ago
ouch well they can make you sell your assets to make the money to pay them
Wiki User
∙ 14y ago
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How do you negotiate a credit card lawsuit if you don't have the cash?
You can make arrangements to set up a payment plan and repay the debt over time. Don't ignore it. It the credit card company takes you to court, they can get a court judgment against you and garnish your wages. (15% of your weekly take home in most states).
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
How long does it take for a credit card company to be able to garnish your wages?
A credit card company cannot garnish your wages. A creditor must follow due process according to the laws of the debtor's resident state. Which means a lawsuit would have to filed, the case won, a judgment filed and granted and then the judgment executed. All states have laws that govern garnishment amounts. Some states such as Texas do not allow creditor garnishment at all. The average time it takes for a creditor suit to be filed and reach court is 15 months.
What is the difference between a debit card and a credit card?
A debit card takes money directly from your account. A credit card takes the money from the credit card company, and the credit card company will bill you in monthly installments until you pay them back (plus interest). A debit card is like paying in cash, without actually having the cash on you. A credit card is similar to taking a small loan.
How to understand the easiest way the difference between debit and credit?
Using your debit card takes money you already have, directly out of your bank account. It works as an instant check, if you have no money in your account, you cannot buy with your debit card. A credit card uses money from the company that gave you the card to pay for purchases. You must pay this back to the company at the end of the month, or they will charge you interest on the money you owe them.
Can credit card company garnish wages if you do not show up in court?
I believe that if a credit card company takes you to court and you or your representative (attorney) do not appear, a summary judgment can be issued against you and the court can order your wages garnished.
If a credit card company takes you to court but you are out of the country can they garnish the wages you are earning outside the US?
If you are working for a U.S. company then the wage garnishment can in some cases be enforced.
How do you negotiate a credit card lawsuit if you don't have the cash?
You can make arrangements to set up a payment plan and repay the debt over time. Don't ignore it. It the credit card company takes you to court, they can get a court judgment against you and garnish your wages. (15% of your weekly take home in most states).
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
What happens when a car company takes you to court when you haven't paid the balance after the reposession?
Most likely you will get your wages garnished. They cannot send you to jail.They will only take 25% of your net disposable income. You can fight it if you chose.
How can you use a credit card to send a check?
Call your credit card company and ask for them to send you some checks that will pull on your available credit card funds. That's all it takes.
How long does it take for a credit card company to be able to garnish your wages?
A credit card company cannot garnish your wages. A creditor must follow due process according to the laws of the debtor's resident state. Which means a lawsuit would have to filed, the case won, a judgment filed and granted and then the judgment executed. All states have laws that govern garnishment amounts. Some states such as Texas do not allow creditor garnishment at all. The average time it takes for a creditor suit to be filed and reach court is 15 months.
What is the difference between a debit card and a credit card?
A debit card takes money directly from your account. A credit card takes the money from the credit card company, and the credit card company will bill you in monthly installments until you pay them back (plus interest). A debit card is like paying in cash, without actually having the cash on you. A credit card is similar to taking a small loan.
If a landlord takes you to court and the judge lowers the amount you have to pay is that reported on your credit as a judgment?
It will more than likely appear as a "settlement."
How does a judgment get attached to your credit report?
A judgment can appear on your credit report if a creditor takes legal action against you for an unpaid debt and wins in court. The creditor can then request the court to issue a judgment against you, which can be reported to credit bureaus. This can negatively impact your credit score and make it difficult to obtain credit in the future.
How to understand the easiest way the difference between debit and credit?
Using your debit card takes money you already have, directly out of your bank account. It works as an instant check, if you have no money in your account, you cannot buy with your debit card. A credit card uses money from the company that gave you the card to pay for purchases. You must pay this back to the company at the end of the month, or they will charge you interest on the money you owe them.
What service does the Auto Credit Express offer?
Auto Credit Express is a financial institution is a company that provides loans to people so that they can purchase a car or truck. One takes out a loan from this company and pays back the loan with a little more than they received. That is how Auto Credit Express makes money.
