Asked in Debt and BankruptcyDebt CollectionForeclosure
You purchased a timeshare vaca pkg and am in over your head What happens if you allow it to go to foreclosure and can they attach to my paycheck?
September 14, 2011 8:42AM
They will receive a judgment on the property and can collect the money any way they want, including garnishing your wages, checking and savings account. So if you ever paid with a check they have your information and can get a court order to remove all the money from your account.
If you have a money deposited on the bank, there's a chance that they will collect it through a court order.
I'm sure they will find ways to know about your bank accounts so that they can collect through it. They do this legally with a court order.
Off course, they will seize your bank account as a way to get a payment.