0
After due process of state law is followed, a creditor can place a lien against nonexempt property owned by the debtor(s). Basically the creditor/collector must file a lawsuit in the debtor's state, win the suit, be granted a writ of judgment and execute the judgment. A judgment can be used as a property lien, or wage garnisment, bank account levy and other such actions allowed under state statutes. The debtor is entitled to exempt property that is specified under the laws of the state. The most important being the homestead exemption, the Kentucky homestead exemption at present is $15,000 but will increase to $18,450 on June 20, 2005. The exemption does not need to be filed by the homeowner it is covered under state statutes.
Wiki User
∙ 8y ago
Wiki User
∙ 14y agoActually I work for a collection agency. Yes, they can. If a debtor refuses payment, a collection agency will initiate legal proceedings. Step 1 is to get the judgment, this can be done at anytime within the statue of limitations. Then comes the lien and often a motion to garnish wages. There are only 5 states where you can't garnish wages for creditor debt: NC, SC, PA, FL, TX. Florida because of the head of household protection, but for all intents and purposes it's corret. The "collection" agency isn't doing it, it's usually an attorney on behalf of the original creditor, but it's arranged THROUGH the collection agency so they can get their cut.
No! Only if there was already a judgment in place. Even if the debt went through "arbitration", a judgment would still have to be perfected and recorded at the county seat.
Add your answer:
Earn +20 pts
Can collection agency put a lien on your bank account in sc?
It is possible for the collection agency to put a lien on your bank account. Before they can do this, they must go through the proper procedures first.
Can the collection agency sue for car that is worth 12000?
Yes - they can, or they can put a lien on the vehicle.
Can a collection agency put a lien against your home for late and unpaid unsecured debt in Pennsylvania and if so could that lien ultimately cause you to lose your home?
Unless the collection agency is an assignee for a firm who provided labor or materials for your real property, they cannot place a lien against your home. They can, however, obtain a judgment, which will act as a lien against your home. They cannot foreclose on your home unless the debt is secured to a mortgage or deed of trust.
Can a collection agency put a lien on your property in the state of Ohio?
Only courts can do that. If a collection agency wants the power to put a lien on, they have to sue you.Look into Federal Trade Commission and Ohio law via Google.You have more protection than you imagine. For example, you can write to a collection agency and tell them to stop contacting you and they must stop. If you are willing to take their calls, they must call at reasonable times, no more than daily and they can't threaten you with any action they don't really intend to take, e.g. suing you for a small debt.
Can a collection agency put a lien on your car or home when you returned the rental property over 3 years ago?
A collection agency doesn't have the power to do anything other that aggravate you. They can with the agreement of the original creditor turn your account over to a collection attorney. The answer to your question is NO! For the amount in question it would be a small claims court judgment (if they got one). I assume there was an outstanding balance on the rental They might be able to get a wage or bank account garnishment. But that too is questionable. If anyone from a collection agency has told you they can place a lien against your property. They are in violation of the FDCL and could be fined or sued for their actions.
Can a collection agency claiming to be a law firm put a lien against your rent security deposit?
There are collection attorneys and they can place liens against real property, such as a house. In regards to placing a lien against a security deposit, that's ridiculous. No real collections attorney or one of the firms reps. would make such a claim.
Can collection agencys put a lien on property for unseccured debt?
Yes, collection agencies can do this. However, first they need to sue the borrowers and obtain a judgment from the court against the general assets of the defendants. Usually, a judgment will become a lien on any real estate property the borrowers own. If the collection agency does not go to court to sue for a judgment, however, it can not place a lien on a home. And not all states or counties may allow judgments to be attached as liens, although many do allow this process.
Can a collection agency put a lien on your federal tax refund?
Most definitely for almost any loan. If it is a student loan, you can count on it.
Can a collection agency put a lien on your house because of a charge off?
In general, a charge off alone does not give a collection agency the right to place a lien on your house. However, if the debt is taken to court and a judgment is obtained against you, then the collection agency may be able to place a lien on your property as a way to secure payment. Each state's laws regarding liens and debt collection can vary, so it's important to consult with a legal professional for advice specific to your situation.
Can you get a lien on your Homesteaded property in Florida?
Yes, you can get a lien on your homesteaded property in Florida. A court will put a lien on the property if money is owed in a judgement.
Can collection agency put lien on home in attempt to collect a charged off debt?
If they obtain a judgment against you, some state's houses are protected
Can a collection agency going after the debt of the cosigner of your auto loan put a lien on your car?
Only if the 'co-signer' also has an ownership interest in the car.
