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The creditor(s)can file a lawsuit against the debtor and if they win a judgment they can execute it against any nonexempt property owned by the debtor. The preferred method is wage garnishment, followed by bank account levy (even joint accounts can be garnished). Other options to the creditor are the seizure and sale of property that is not considered exempt under state law, including jointly owned property and liens against real property (also if jointly owned)such as a home, vehicle, boat, etc. In the majority of states a forced sale of any real property is possible, including a home if it is not covered by the allowed homestead exemption. Creditor judgments are valid for 10 to 20 years and are usually renewable. A judgment creditor can hold the execution of the judgment until the debtor obtains property that can be seized or can execute the judgment within ten days after it has been awarded.

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โˆ™ 2006-03-16 19:32:26
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Q: If you are self-employed with 50000 in credit card debt what can they do if you don't pay them and you don't want to file bankruptcy?
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Related questions

If you are an additional card holder on a parent's credit card account and you file bankruptcy will the bankruptcy appear on their credit?

The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.


Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?

"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."


Are there any types of credit cards one can get if they have declared bankruptcy?

When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.


Can I get credit cards after bankruptcy?

It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.


You have a zales credit card it is a jewelry credit card can you file bankruptcy on this card along with your other credit cards?

Yes


Is it possible to just declare bankruptcy on credit cards?

You can declare bankruptcy due to credit card debts, yes.


If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?

You have to, it is a debt...it is just a secured debt...by the lien on the property.


What can you do if a credit card was not listed in your bankruptcy but was on your credit report and credit card co did a review for credit line increase and saw the bankruptcy and notated the account?

That depends on HOW they notated the account. If they marked it as 'included in bankruptcy', even if you did not list them on your creditor matrix, you probably will not succeed in disputing it, but you can try.


Is it legal to get a credit card after bankruptcy?

It is up to the credit card company/bank to give you a credit card. If they approve you, that is their risk. Lately, card companies purposely target people with bad credit (including people who have gone through bankruptcy) because they have a better chance of making a profit through late fees and high interest. Also, new bankruptcy laws state that credit card debt can now not be relieved through bankruptcy. So, if you have bad credit or you are an idiot with your money, don't fool around with credit cards.


If you have a credit card and use it just before filing bankruptcy can a creditor deny your bankruptcy?

If you are on the brink of bankruptcy... you probably can't get a credit card. Opps... didn't read that right. Sorry. I really don't know.


Can credit card debt be erased in Tennessee bankruptcy?

A Chapter 7 BK can eliminate credit card debt.


Can credit cards be used after someone files for bankruptcy?

Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.


If you are an authorized user on your parents credit card and they claim bankruptcy how will that affect your credit?

It will not affect your credit at all. Their credit information was used to secure the card. You are in the clear.


What credit card usage is not covered in bankruptcy?

It all is includable.


How can one get credit cards after bankruptcy?

To get credit cards after bankruptcy you can apply to credit companies that you haven't had previous experience with or go with your old company and get a card with a lower limit on it.


What is the best way to get a credit card after bankruptcy?

The best way to get a credit card after bankruptcy is to show a sense of money management to the prospective bank, make money elsewhere and be sure to keep your credit scores going upwards.


Where can one get help for credit card debt bankruptcy?

There are many places where one can get help for credit and debt bankruptcy. For example, Debt Advisors Scotland, Consumer Information and Total Bankruptcy.


Is an authorized credit card user responsible for credit card debt if the primary card holder declares bankruptcy?

No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).


After bankruptcy can you get a credit card or a credit line?

Yes you can get a credit card, and it will help you rebuild your credit if paid on time. Go Google and type in credit cards for people with bad credit, you will get loads of hits.


When must a bank charge off a credit card?

When you have filed Bankruptcy.


How do you stop wage garnishment for credit card debt?

file bankruptcy


If a credit card company sues you can you file bankruptcy?

Thier actions, or lack, do not effect your ability to file for bankruptcy.


If you add your wife who has a discharged bankruptcy 4 yrs ago to your credit card can hurt the husband's stellar credit score?

Yes. But not as much as if the husband did the bankruptcy.


Can you get a secured credit card with a bankruptcy on your credit record?

Yes. You are not really getting credit-it draws from your balance like an atm.


Is there a statute of limitations on credit card debt in Illinois?

You will owe your credit card debt until it is forgiven, discharged in bankruptcy or paid off. Credit card debt can be negotiated down with the creditors.