No! Once a debt it written off that is usually the way it stays, but you didn't get away scott-free. You will be "red tagged" for further credit from many credit card companies. Trying to get a loan for a car or house will be difficult because banking institutions will always do a credit check on you. It is best to try and pay your debts off if you can. Letters to that company that you are trying and you send it what you can afford (even if it takes a few years) are kept on file and you can save your credit this way. In reality, the credit card company could still come after you, but the court costs aren't worth it, so what they end up doing is writing your debt off and passing the higher interest rates off onto other customers. Marcy If a credit card company writes off your account, do you mean wriiten off as bad debt? They might have written it off, but sold it to a collection agency, and that could be trouble.They write it off for tax purposes, but it is still a debt owed. Depending on your state statute of limitations, the collection agency could sue you for a judgment. After that, they would generally execute the garnishment of your wages, or seize and execute non-exempt property.
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
You can't MAKE a credit card company reopen an account. You can call the credit bureau and request that they change the status to indicate that is was closed by you and not the credit grantor. Or, you can simply put a notation in your credit report stating that the account was closed by you and not the card company.
credit
It happens and can be disputed. Call you credit card company or credit agencies.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
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.
For California, look in court forms web site and look for judgment exceptions to garnishment. I would do an attachment, but this is not an email. ==========================
Yes, if a creditor wins a lawsuit and is granted a judgment, said judgment can be enforced as a bank account garnishment. A joint account (even a marital one) is subject to attachment to the extent of the debtor's share.
Yes, a judgment creditor can execute the judgment as a wage garnishment.
I thought this was illegal. How is the credit card company that is garnishing his wages supposed to collect their money when our account is frozen?
After the creditor wins a lawsuit and has been awarded a judgment against the debtor and then files the judgment as a wage garnishment action.
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.
There are several potential scenarios here:The credit card lender must have a judgment to send an order of garnishment, first and foremost. And, both parties must be listed in the order of judgment.It is possible, if the agreement was signed at the time the credit line was initiated, for some credit card lenders, such as Chase for instance, to take money from an account at the same bank. If the husband and wife have a joint account, the money will be taken regardless of who deposited it.If the bank account is a joint account and an order of garnishment is served, it will not matter who is on the account so long as the party upon whom the judgment is served is on the account.It is possible that if the lender has proof that the husband is sheltering his funds in the wife's account, that a judge may permit an order of garnishment to be served on the wife's account, but only for the funds he deposits there.
Yes. This is a contract account. As such, once the creditor has obtained a judgment, they have a variety of means of collecting the debt.
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.
A lien cannot be placed against an individual in reality. However, a judgment creditor such as a credit card company can place a lien against real property owned by a judgment debtor. The judgment creditor can take other steps as well to collect the debt, an example would be income garnishment.
The creditor would need to obtain a lawsuit judgment from the Texas court before wage garnishment would be allowed. Texas only allows garnishment of wages when there are no other means for a judgment creditor to collect a debt owed. If a judgment has already been entered against the debtor in a different state, the judgment creditor can place a "foreign" judgment lien against property owned by the debtor.