24 I'm sure :-) :-) :-)
== == * Yes they can, but there are so many factors that must be in order before they can do that. For example, they must consider the balance of the account, if your bank account is a joint account, the laws of the state which you live, etc. They have procedures to follow. It does happen, but as a general rule, they try to stay away from that because it costs them money for lawyers, etc. == == * If you do not pay your credit card balance, the credit card company would first have to sue you and get a money judgment. Laws on collecting judgments vary from state to state, but most states would allow some type of wage garnishment. Once entered, state law would determine the amount of interest that accrues on the judgment. * It is highly unlikely they will ever even come after you. Unless you owe quite a considerable amount they will just write it off and sell the debt for pennies to a collection agency. They too will unlikely ever sue you because of the cost it takes to go to court. * Credit card companies cannot take your house, they can only put a lien on money owed that would be paid if you sell the house and have equity. As far as garnishing wages and I'm not sure if it's according to state laws, but the state I live in wage garnishment can only be by the Government, IRS or Child Support Agency. You can ask your employer about the laws on wage garnishment.
I would think not, that money is to be used for educational expenses only! That money is backed by the federal gov't to be used for your education! If they did that I'm sure you would have court standing.
It means that a bonding agency would be willing to carry a bond to guarantee your behavior. Typically, if you have been pretty honest and don't have any felony convictions or bankruptcy, you'll be bondable. What is being asked here is essentially whether or not you will pass the background check. If you are free of criminal activity in your past, you will be bonded to the company, so that in the event you steal or commit fraud against them, the company is covered for the losses you have incurred. It is asking if you are eligible for a Bond, often called a Fidelity Bond. It is an assurance that you are free from criminal activity and that the comapny will not incur loss if you do come to work for them and steal or commit a fraudulent act while employed.
He should be worth around $1 billion or more
It is very unlikely they will or even can take your home. This is very true if you have a morgage on the home, first they would have to pay off the lender on your home then foreclose, under most conditions they can't forclose as long as you pay the lender on your home. Find out what your state laws are. If you live in a "Tenancy by the Entirety" state, you lucked out they can't touch anything that is in both names. Here are more answers and opinions from other FAQ Farmers: * They can get a judgment and place a lien on the house, which means if you ever sell it, then they will have to be paid. Check your state laws for how long such a judgment-lien will remain on the house. In my state, it's 10 years, and then they either have to renew their judgment or lose it. But remember that each time you make a payment on your mortgage, you're increasing your equity and thus creating a better chance that there will be enough equity (after your Homestead Exemption, whatever that exemption is in your state) for the creditor to get his money--or at least more of it. So if you sell your house before the lien falls off, much of the principal you've paid on your mortgage may go to the creditor who holds a lien on the house. Thanks to a Congress that cares more about getting campaign donations from big credit-card companies than about protecting people who've hit financial troubles, the creditors hold all the cards. * My mother is 83. Her social security and a small anuity pay all of her expenses. Her life savings is down to $11,00.00, which she is using to pay the minimum on her credit card bills. She owes $26,000 on her cards and her minimum payments are about $500.00/month. She will run out of money in about 6 months. What happens if she stops paying her cards or begins sending $50.00 a month?
Yes. Spousal and child support are the only unemployment benefits that can be garnished.
Yes, you can make payment arrangements with almost anyone to whom you owe money. In fact, they would probably prefer that to the giant pain in the ass garnishing wages can be. Companies, health care professionals and even the IRS are willing to set up a payment arrangement with you. However, to be sure you don't miss a payment and force the creditor to "call" the whole amount (try to force you to pay in full), they may ask for checking account information so they can take it out on the day of the month you tell them is best.
1. All creditors/ collectors will threaten to sue you and garnish your paychecks. I would suggest, first look up you r state laws and a little bit of common sense before getting afraid. For example, no one can garnish your disability allowance, Social security Income, no one can garnish you if you are self employed or un employed.
2. More and more banks try to settle matters out of the court, as they also know that jobs are unstable and property is losing value these days, so things like garnishment or lien on mortgage doesn't help them much.
Don't feel that you have to agree to all they say. Go ahead and negotiate, they will agree to it. I recently had a friend who was in a similar situation. He had a debt of some $20000 with a Credit card. He was being garnished, the bank gave him an offer to settle out of bank. They finally agreed on the following terms. $50 a month for next 5 years. THATZ IT. So, the point here is, if you are being garnished, dont let your chances of negotiations go by.
An employer large enough to be subject to anti-discrimination laws can not take arrests into account, ever. Employers can take convictions into account if they are job related. Small employers not subject to anti-discrimination laws can do what they wish.
Arrested is different from convicted. The question most employers ask is have you been convicted. The arrest if it is recent may show on background check. Arrested is not a "protected class" and in many states an employer maw or may not hire a person. There is no requirement for them to hire a particular person. Only that if they have two applicants that not disqualify one based on a protected class, age, sex, marital status, etc. Not a perfect system.. some states are starting to include those convicted of minor crimes as a "protected class" or are not providing information upon an employers inquiry. Very small companies do have some limited application of non-discrmination laws but they can still hire whomever they choose.
Virginia Procedural Requirements
On a judgment for money, it shall be the duty of the clerk of the court in which such judgment was rendered, upon request of the judgment creditor, to issue a writ of fieri facias at the expiration of twenty one days from the date of the entry of the judgment and place the same in the hands of the proper officer of such court to be executed and take his receipt therefor. Virginia. Code Ann. _ 8.01 466.
To ascertain the personal Statutee of a judgment debtor to which the debtor named in a judgment and fieri facias is entitled, upon the application of the execution creditor, the clerk of the court from which such fieri facias issued shall issue a summons against any debtor to, or bailee of, the execution debtor. The summons shall require him to appear before the court from which the fieri facias issued or a commissioner of a county or city contiguous thereto, or upon request of the execution creditor, before a like court or commissioner of the county or city in which the execution debtor resides, or of a county or city contiguous thereto, to answer such interrogatories as may be propounded to him by the execution creditor or his attorney, or the court, or the commissioner, as the case may be. As a condition precedent to such a proceeding, the execution creditor must furnish the court with a certificate setting forth that he has not proceeded against the execution debtor under this section within the six months last preceding the date of such certificate. Virginia. Code Ann. _ 8.01506.
Any money, bank notes, securities, evidences of debt, or other personal Statutee, tangible or intangible, which it may appear by such answers are in possession of or under the control of the debtor or his debtor or bailee, shall be delivered by him or them, as far as practicable, to the officer to whom was delivered the fieri facias, or to some other, or in such manner as may be ordered by the commissioner or court. Virginia. Code Ann. _ 8.01507.
On a suggestion by the judgment creditor that, by reason of the lien of his writ of fieri facias, there is a liability on any person other than the judgment debtor, a summons in the form prescribed by _ 8.01512.3 may be sued out of the clerk's office of the court from which an execution on the judgment is issued or be sued out of the clerk's office to which an execution issued thereon has been returned against such person. The summons and the notice and claim for exemption form shall be served on the garnishee, and shall be served on the judgment debtor promptly after service on the garnishee. Service on the judgment debtor and the garnishee shall be made pursuant to subdivision 1 or 2 of _ 8.01296 (mainly personal service).
When making an application for garnishment, the judgment creditor shall set forth on the suggestion for summons in garnishment the last known address of the judgment debtor, and shall furnish the clerk with an envelope, with first class postage attached, addressed to such address, whereupon a copy of the summons and the notice for exemptions form shall be inserted into such envelope by the clerk and sent to the sheriff with the process to be served. The judgment creditor shall furnish the social security number of the judgment debtor to the clerk, unless excepted by law. The judgment creditor shall, in the suggestion, specify the amount of interest, if any, that is claimed to be due upon the judgment, calculated to the return day of the summons. He shall also set out such credits as may have been made upon the judgment. Virginia. Code Ann. _ 8.01511.
Interest Rate at which Judgments Accrue The judgment rate of interest shall be an annual rate of nine percent, except that a money judgment entered in an action arising from a contract shall carry interest at the rate lawfully charged on such contract, or at nine percent annually, whichever is higher. Interest at the judgment rate, where no rate is fixed by the contract, shall apply to both prejudgment interest and to post judgment interest. Virginia. Code Ann. _ 6.1330.54. Applicable Forms Garnishment Summons, Virginia. Code Ann. _ 8.01512.3. Notice of Exemptions, Virginia. Code Ann. _ 8.01512.4. 4.0.
Gross pay is what you make before any deductions. If a job is advertised at $30,000 a year, then that's the gross pay. Net pay is what's left after taxes, health benefits and other deductions are taken out of your check. So gross pay of $30,000 would become something like net pay of $22,564.
this can vary by state, but in most if they get a judgment against you by taking you to court, then can - but there are rules about this as well that vary by state for example where I live they can't garnish the head of household, can't leave less than a certain amount in the check, etc.
There are a LOT of variables: how much you owe v.s. how much the car is worth... The state you live in...the loan agereement which you have signed..other costs such as towing, storage etc... Generally , if they repo the car and it pays off your debt, and you pay the towing and storage fees and there is no outstanding balance, they have no reason to garnish your wages. But if you don't make a deal with the loan company, and you owe them money and don't set up a payment schedule that they accept, they can garnish your wages until you are even ( you don't owe them anything). If you communicate with the lender and make arrangements to pay so much a week, they will work with you. But if you blow them off, they will get their money one way or another! A negotiated payment plan looks better on your credit record than a garnishment.
In certain states your wages cannot be garnished for certain liabilities. For instance, if you owe taxes, they will garnish your wages, if you owe child support and have been a deadbeat parent, they will garner your wages, however, there are some jurisdictions that will not garnish your wages for certain unsecured debt. More input from FAQ Farmers: * Florida but only if you are head of household. * South Carolina, too! * Pennsylvania, South Carolina, North Carolina and Texas do not allow wage garnishment for creditor debt. Florida does not have specific laws prohibiting the action, but does have laws that make it very difficult for wage garnishment against the "head of household." * Kansas - Special "purchased paper" law. Basically, if an account is sold to another company *BEFORE* judgment, a wage garnishment is not allowed. If an account is sold to another company *AFTER* judgment, then a wage garnishment is allowed.
"United States Treasury"
Also write your Social Security Number, the tax year, and the Form number on the check.
For example, "2008 Form 1040"
If the company is not incorporated then yes, the assets of the company technically belong directly to the owner and can be garnished to pay child support.
To avoid this, the company can become incorporated and the owner should be given a specific salary set by the corporation.
You don't- the creditor gets to keep what he has garnished up to that point. If you file BK, the BK trustee might force the creditor to return some or all of that money. But even if that happens, that returned money will be re-distributed to all your creditors- you personally would not be getting that money back.
National income is defined as the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period usually 1 year.
Yes indeed. If you owe attorney fees the attorney can sue you in court. If successful, a judgment lien will be issued by the court. That judgment lien can be recorded in the land records against your property. Lawsuits for unpaid attorney's fees are not uncommon.
If you owe the attorney a fee you should try to work out a payments plan and make the payments regularly. Be sure to make it a plan you can live with. Most attorneys would rather work things out with their clients than sue them. Just like everyone else they just wanted to get paid for the work they've done.
Most states have a system for attorney fee disputes to be resolved through some form of mediation or arbitration. If you are contesting the fees, you should contact your local bar association to find out how to mediate your dispute.
To the best of my knowledge there is no limit. This is their way of robbing people and unfortunatly the city usually just wants the car MOVED so they don't crack down on the fees the companies that move the cars charge. The finance company that has it repo'd pays them to tow it and allowing them to rob you keeps their costs down they have to pay the tow company also.
in the state of Virginia-each jurisdiction has a towing board made up of tow company owners and public officials that regulate what towing companies can charge for towing/impounding/storage/accident recovery/etc. and also how far your car can be taken when impounded or towed. you should check with your local police or sheriff office to see if the repo company falls under their jurisdiction as far as storage costs go when repossession is involved
Depends on the state the vehicle was picked up. To the best of my knowledge most states do not regulate this. One of the reasons for high storage rates by the recovery agency is many finance companies are asking for free storage unless the debtor redeems the vehicle. The repossessor can't afford to pay for his lot or garage without collecting storage from someone. Plus there is the additional burden of insurance while the vehicle is being stored. The average deductible for repo insurance is $1000.00 to $1500.00. for each claim. You also have the costs for security and lot attendants who not only release the vehicle but must do all the paperwork for the finance companies.
I know you don't like to hear this but the fact is many agencies are now losing money when it comes to total cost of storing the vehicles. This could all be resolved if the finance companies would quit placing the burden on the recovery agency and added all to the original repossession fee. In their attempts to hold down their own costs they are forcing the recovery company to sign unfair contracts in the first place. Strange as it may seem almost every major lender has almost the same contract and the recovery eithers signs this or has no work.
The financial institutions use auctions for such issues. They, for the most part, do not have lots where they will attempt to sell the vehicles. They cut their loss and auction them off to recoup what they can prior to the end of any fiscal reporting for that quarter. So the A to your Q is they take what it sells for at auction, which is far less than market value! It sucks for all parties involved. They take the loss which in turn is past on to you, the person the car was taken from. You are now responsible for the difference of the balance. Hope this A your Q.
you get arrested
According to Consumerlawpage.com, a resale of a repossessed car must be conducted in a "commercially reasonble manner". If you believe that your vehicle was resold for less than fair market value, the resale is not commercially reasonable. Contact an attorney, your car may have been sold to "a friend" for a substantially lower price than what the car is worth.
You do not need an attorney to sue in most states.Sue the bank for not selling the vehicle in a c.r.manner.This is a scam because all the banks do is hold a closed auction where the dealers who sold you the car get the same car back at a huge savings and start the game all over again.Oh yeah and then the bank sticks you with the difference.
In most cases YES. You should talk to an attorney in your area for state specific advice.
Yes, if the lender obtains a judgment for the deficiency.
That depends upon what you want to say. You may wish to tell them that since your income has become smaller, you will have to make smaller payments, and you hope that this will not be a problem for the mortgage company. Or, you may tell them that you can no longer afford to make payments at this time, but if they give you more time, you may be able to resume payments at some future date. Or you might say that you can no longer make payments and will never be able to make any further payments on the property in question, therefore the mortgage company will have to repossess it.
The above was submitted by erasing all previous replies, which is generally improper in this format. I would also disagree with much of it. And telling them they will have to repossess makes that action faster and surer than suggesting a "deed in lieu of foreclosure" resolution.
The below are some of the previous responses reposted:
The best option is to contact the lender directly and discuss what options may be available before the mortgage goes into default. Lenders will not bother reading a letter if the borrower does not contact them directly first.AnswerBegging for charity is better done elsewhere. + + So if that's what your thinking, you need to change the whole premise - complaining about your financial hardship will only advise them you aren't capable and they need to act to prevent further losses. Don't pretend for a minute that your financial problems will, or should, be resolved or even shared by them. And be sure, they've heard it all before.
However, acknowleging you had problems and that you -have- a plan to resolve them, and have done things to assure it won't happen again...but require a little understanding from them to make things right....and explaining exactly what steps you'd like to take to resolve it, and stressing why the plan - will work - then saying exactly what they can do ...so in the end they ultimately get completely repaid, that will have some great meaning.
A letter of hardship for loan modification is essentially your best prospect to give explanation to the lender, the conditions that led you to be in arrears on your mortgage.
It is crucial to be precise, clear-cut, and truthful while writing the hardship letter. Sugar-coating your situation is not recommendable.
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