Can credit card companies garnish your wages or take away your house?

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  • 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.
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Can a credit card company garnish your wages?

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How long does it take for a credit card company to be able to garnish your wages?

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What can you do if a credit card company has a court order to garnish wages?

Answer . \nIf it is a valid judgment garnishment there isn't an alternative unless the garenishment amount constitutes a hardship on the\ngarnishee and/or their dependents

Does Texas allow wage garnishment from credit card companies?

You may be garnished anywhere for alimony, child support, taxes, student loans and some other special things. . Generally, all income in Texas is exempt from garnishment fo

Can credit card companies garnish your wages in Minnesota?

Yes, although the creditor would need to follow the proper legal procedure which is usually a civil suit against the debtor in a court in the county where the debtor resides.

Can credit card companies garnish wages in Ohio?

Yes, if they file suit and are awarded a judgment they can execute the judgment as a wage garnishment.. Garnishments must run consecutively they cannot run concurrently. The

Can a credit card company garnish wages in Alabama?

If the lender/collector sues the borrower and wins a judgment the judgment can be executed as a wage garnishment. The maximum under federal law being 25% of the judgment debto