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Before a creditor can seize a debtor's property they must follow due process of law, which can mean a lawsuit or arbitration hearing. If the creditor is awarded a judgment the judgment can then be executed in the manner allowed by the state in which the debtor resides. All US states have laws that allow the debtor to exempt a specific amount of personal and real property from debtor attachment, such exemptions are usual the same as those that can be used in bankruptcy with in some cases federal non bankruptcy exemptions (SS benefits, military pensions, etc.). The preferred method of execution of a judgment writ is garnishment of wages or levy of a bank account. Other ways are the seizure and sale of non exempted bonds, stocks, jewelry, household items (seldom implemented) or a lien(s)against real property. Please be advised, the above applies to unsecured debt only, it does not apply to merchant debt (Sears, Best Buy, etc.) where goods are obtained on store credit/card. The items purchased under such circumstances are considered collateral and can be repossessed in the case of default.
What else can I help you with?
Where to get a credit card?
Banks and credit card companies i guess
What are some of the 'major' credit card companies?
Some of the 'major' credit card companies are Visa, Mastercard, and American Express. These three are the three largest credit card companies in the world.
When you die can credit card companies put a judgment on my property?
...you...my...?When I die, your credit card companies have absolutely nothing to do with the situation.When I die my credit card companies will take whatever I owe them.
How do credit card companies earn profits?
Credit card companies earn profits by charging interest.
What credit card companies offer cash advances?
There are a number of credit card companies that offer cash advances to customers. One can get them from Citi credit cards, Commonwealth Bank Credit card and the HSBC Credit Card.
Where can one find reviews on Credit Card Companies?
There are many places where one can read reviews on credit card companies. One can read reviews on credit card companies at popular on the web sources such as Capital One and Credit Card Guide.
Can a credit card company execute a writ to garnish your wages in the state of Alabama?
Yes.
Do credit card companies report cash payments?
No, credit card companies do not typically report cash payments.
What companies offer guaranteed credit card approval?
When looking for a credit card some type of credit history assessment will have to take place. No companies will offer a guaranteed offer of credit. Some companies are easier to be accepted to if you have poor credit history such as a credit builder card.
What is meant by credit card companies having to validate?
meaning of credit card
What companies offer a card balance transfer credit card?
Need a card balance transfer credit card and wondering which companies offer them? There are many companies offering a card balance transfer credit card including but not limited to Discover card, Capital one and Venture rewards.
Do credit card companies give a credit card to everybody?
Credit card companies have different requirements and qualifications. If you don't have enough proof that you can pay any loan that you will make through your credit card, your application will not be granted.
