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If sued for a credit card debt and there are not any assets will wages still be taken even if it causes hardship?
Wiki User
∙ 18y ago
Decisions concerning wage garnishment and the amount that can be garnished are left to the presiding judge. The maximum amount under federal law is 25% of disposable income with the first $154.50 of weekly salary exempt from garnishment. Many states have established garnishment laws where the percentage allowed is lower than the federal; the lowest percentage is the one that is applied. All garnishment action is subject to appeal and modification if the garnishee can present proof that it would constitute an "undue hardship" on themselves and/or dependents. There are four states that do not allow garnishment for creditor debt, Texas, Pennsylvania, N.Carolina and S.Carolina. Several states such as Florida have limited garnishment laws making such action difficult to enforce.
Wiki User
∙ 18y ago
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If the credit card belong only to the deceased with no assets widow still have to pay?
The estate still has to pay the debt. Usually that means that the widow will have to pay the debt from the assets left by the husband.
What Are The Things That Determine A Line Of Credit?
When it comes to line of credits, lenders look at elements like cash flow, credit records and companies’ assets. In case you are still worried about a personal bad credit score can hurt, there are still alternative options.
Can I Still Get The Funding Even When Experiencing Personal Bad Credit?
Yes you can get the funding you need even experiencing personal bad credit. The lendersfinance businesses based on their business income and liquid assets, not the owner’s personal credit.
What Are The Factors That Determine A Credit Line?
Lenders or lending firms take a look at factors such as income, credit rating along with a businesses’ other assets. If you're worried that the personal bad credit score can hurt, you will find still options.
When you freeze your credit cards do you pay interest rate still?
freeze? do you mean stop using and cut up a card? yes if the government freezes your assets, i dont believe so
If there is no assets who's responsible for credit card debt?
If a person dies and owes money on credit cards, the person who issued the credit cards loses. The merchant still gets his money. (The credit card companies make money by charging merchants a small fee on each transaction. They make interest. They lose money on deadbeats and deaths.)
Who's responsible for credit card debt after the card holder dies?
The estate covers the bill. If the spouse is still alive, he/she will probably have to cover the bill with the proceeds of the estate. If there aren't enough assets to cover the debt, and the credit account was not joint with anyone else, the credit card company will have to pay it out of their own pocket. Credit card companies cannot force the family to pay the debt. == ==
If a credit card is not activated does it still reflect on your credit report?
Yes. If they extend the line of credit to you, and you do not activate it, it will still show up on your credit report.
Can you keep one credit card that is still in debt but surrender your other cards?
When filing a Chap. 7, all debts and assets must be listed. All credit cards must be relinquished. Sometimes a consumer is allowed to keep a CC for "emergencies" depending upon the creditor and BK trustee.
Will credit card companies reduce the balance owed upon death?
Credit card debt is not passed on to heirs when a loved one dies, but it can still affect you. When someone dies with debt, credit card companies will first try to collect from the deceased's estate. If there is not enough money in the estate, heirs may have to sell assets from the estate in order to cover the liabilities. So, even though the heirs are not directly responsible for the debt, they may have to sell assets they were expecting to keep in order to repay the deceased's financial obligations. If, after assets are sold, there still is not enough money in the estate to cover the remaining debt, the company that issued the credit card will write off the debt. Usually, a death certificate is required as proof. Family members are not legally liable for any debt. Be careful, however, if you are a joint account holder on a credit card. If you have a card in common with someone, you are responsible for the debt on that account if the other account holder dies.
Does your wife have to pay off your credit cards when you die?
Not unless she is liable for the debt by another rule of law; e.g., she is a signatory on the debt or the debt is one for "necessaries." However, the decedent's nonexempt assets still are liable for the debts.
Do you still get credit if you fail an AP class?
If you pass an AP class but fail the AP exam you will NOT get a college credit but you will receive credit for the class. Colleges will still recognize that you took an AP class, and you will still receive credit for the class, just not college credit.
