Yes, they can. They want their money any way they can get it. It would be best if you make the arrangements that you feel you can afford and they will accept--Rather than 1. the embarrassment of people at work knowing this is happening and 2. seeing a chunk of EVERY paycheck going to the bill until it is paid off. (the amount deducted will depend on what state you are in--ex. New York--it is a simple 10% off the gross of every paycheck or bonus, Kentucky has a formula they use and one stands to lose a lot of their net even if you are the only bread winner.) Check the following link for your state http://www.bcsalliance.com/y_debt_statelaws_garnishments.html * The lender would have to file suit in the debtor's new state and if awarded a judgment enforce the judgment as a wage garnishment. If the lender chose to file an abstract judgment using the one that was awarded in a previous state such a judgment can only be used as a lien against real property owned by the debtor, not as a wage garnishment.
garnished wages in Texasno the state of Texas does not garnish wages for no debts unless it is IRS related or student loans or anything dealing with government loans.
If filed in a timely manner. But have you considered the LASTING effects of filing?
Yes, it can.
TEXAS PROHIBITS ANY CREDITORS FROM WAGE GARNISHMENT...THEY DO NOT ALLOW IT...THE ONLY PEOPLE THAT CAN GARNISH YOUR WAGES IN TEXAS ARE STUDENT LOANS, IRS, CHILD SUPPORT....YOU CAN GOOGLE TEXAS WAGE GARNISHMENT AND PRINT OUT THE INFORMATION...
They might be able to garnish your payments for the money that you owe them , but nothing more since vehicle has been repossessed.
Yes. There's a process they have to follow, which includes getting a court judgment against you. If you don't hold to that judgment (which is usually paying back the money owed), they can ask the court to garnish your wages.
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
Yes. After the vehicle is repossessed it is sold at auction, usually not for very much money. The sales amount is applied to the loan balance then the borrower is still responsible for the rest of the money. If it isn't paid, the courts will often allow the lending institution to garnish wages to get payment. It's usually best to just pay the debt as promised.
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
No, they cannot garnish you wages if you reside in NC. Only the IRS, state and local tax authority can garnish your wages. If you move to a garnishment state garnishment proceedings may be taken against you. Only a civil judgment may be filed but that would be at the creditor's discretion. Typically, one the car has been repossessed, it will have a condition report done on it by the repossession company who will then send it to the company that assigned the account. The credit company will determine what to do at that point. If it is worth it for them to have the vehicle go to auction, they will have it transported to the auction company where it will be sold. If the vehicle is sold for more than what you owed (this includes all the fees that get added to the account, i.e., repo fees, transport fees, admin fees, etc.) the credit company has to give you the balance. If, however, it is sold for less than what you owe (more often the case), you are responsible for the remaining balance. Yes, they can take you to court for that balance but most of the time it is written off by the credit company and it remains on your credit as a repo.
A creditor cannot garnish your wages unless they file a lawsuit and obtained a judgment against you. The time deadline to file a lawsuit will vary by state.
Our company that refinanced the vehicle is threatning to garnish wages and garnish our other vehicle (of which is paid for) and other assets.
by paying the bill or rebuy it at an aucton
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
NAKEI, I dont KNOW the answer but I dont see why they would. How would repoing your car give you any income for the IRS to tax?? Is a collector/repo person threatening you?No, the IRS will not take your taxes, on a repossessed vehicle or other property. However, the lender does have various legal options to get money owed them by an individual. This includes the ability to file a claim with the courts to garnish your wages and even your tax refunds.You should check the laws in your state regarding "garnishment" because not all state allow for wage garnishment and that may also affect where your tax refunds can be garnished.
The lender owns the vehicle and is required to sell it at a public auction for as close to the market value as is possible. It is likely the judgment wage garnishment is a result of money still owed on the original loan amount plus fees that were not covered in the sale of the vehicle.
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
Technically (and leagally) yes.
Yes it can.
Obvious answer, Yes.
No. Absolutely not. If they enter a vehicle they do not have an order of repossession on, they've committed a crime. They may enter the vehicle they are there to repossess, and only the vehicle they are there to repossess.
No, you no longer have anything to trade (the car is now the property of the repo company not you).