If a creditor/lender obtains a writ of judgment from the court in the state where the debtor resides, said judgment can be executed against real and personal property belonging to the debtor. In matters of judgments for CC debt in most US states it is possible for the judgment holder to place a lien against a vehicle (depending upon how the vehicle is titled) and request a forced sale. However, even though it is possible it is not in feasible for the judgment creditor to take such action and therefore highly unlikely to occur. The judgment debtor can also, garnish wages, levy bank accounts, seize and liquidate non exempt assets (stocks, bonds, etc.) or place a lien against real property. The judgment debtor should familiarize themselves with what real and personal property is exempted from attachment according to the laws of their state. Generally these exemptions will be the same as are allowed in bankruptcy proceedings.
No.
Yes, the agreement includes their ability to sue you for unpaid bills.
A company can seize assets doe to credit card default if they obtain a judgment through the court. You will be notified of the court date.
can a credit card that has won judgment against you seize other credit cards that are in good standing
The credit card company will pursue you for the unpaid debt, usually they will get a court order which will give you a very poor credit rating for several years
No.
it denotes the amount of unpaid purchases on the card.
No.
as long as it remains a part of your credit report, 7 years.
Yes, the agreement includes their ability to sue you for unpaid bills.
A company can seize assets doe to credit card default if they obtain a judgment through the court. You will be notified of the court date.
Only the card expires, not the line of credit it is attached to. So interest will still accrue on the unpaid debt.
sure they can but they cant collect or that is what happens in texas they can get an injunction against you but that means you have to pay them but not when Absolutely. You own them the money and they can hire an attorney or sell the debt to a collection agency.
can a credit card that has won judgment against you seize other credit cards that are in good standing
In the United States, consumers are protected by the Fair Credit Billing Act, which sets rules for the resolution of billing errors on credit card accounts. If a consumer believes they were charged incorrectly on their credit card, they have the right to dispute the charge with the credit card company. It is important to report any billing errors promptly to avoid being responsible for unpaid charges.
y bro
If you fail to make payments on your credit card, the company could sue you, take a judgment against you, and possiblyseize your car and sell it at auction. However, the credit card company would have to pay off the car loan in order to clear the title. That would not be worthwhile for them to do unless the car was worth significantly more that the unpaid car loan balance.It is also possible that the credit card company could not seize and sell your var because most states provide certain exemptions from execution on judgments. These exemptions vary widely from state to state.