Can credit card companies garnish your wages or take away your house?
- 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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A creditor can not garnish your wages without a court order. Actually, the only thing they CAN do is to take you to court, which is a possibility. However, without such action…, there is nothing they can do to you outside of calling you and writing you in an attempt to collect on the debt. Wage garnishment laws vary state to state although there are federal guidelines. You need to speak with a lawyer if this is a concern. In general, most states do not allow wage garnishment for credit card debt. Edit/Correction: Most states DO permit wage garnishment assignment for an unsecured debt such as a credit card. Check your state laws for up-to-date information. There are only four states that do not allow wage garnishment for credito debt, they are North and South Carolina, Pennsylvania and Texas. If a creditor has a judgment, then a lawsuit has been filed and the plaintiff/creditor won the suit and received a writ of judgment. Garnishment of wages or levy of bank accounts cannot be done arbitrarily by a creditor, they must follow due process even if it involves arbitration proceedings. Banks cannot release funds to a creditor for repayment of debt w/o a valid court order allowing the action. Only after they have gone through the process of taking you to court suing you, winning the suit, and then applying for a garnishment order. All of this takes time and oney. They can sue you in small claims court, depending on the amount you owe and your state. It is always best to try and reach an agreement with the company before it reaches litigation. May be I think. -------------------- Debt Management .
A credit card company cannot garnish your wages. A creditor must follow due process according to the laws of the debtor's resident state. Which means a lawsuit would have to f…iled, the case won, a judgment filed and granted and then the judgment executed. All states have laws that govern garnishment amounts. Some states such as Texas do not allow creditor garnishment at all. The average time it takes for a creditor suit to be filed and reach court is 15 months.
Answer . No, N.C. law does not allow wage garnishment when it pertains to credit card debt.
Answer . \nSimplified version: File a lawsuit, win the suit, receive a writ of judgment, execute the judgment as a wage garnishment against the debtor/defendant. The averag…e length of time from the filing to the hearing of a creditor vs.debtor lawsuit is 15 months.
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….\n. \nIf such is the case a petition and supporting documents can be filed in the court where the garnishment order was issued to request that the amount be reduced.
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…r Cr Cards, although that certainly does not mean that may other methods of recovery aren't used..
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. …If the lender is awarded a judgment the judgment can then be executed as a wage garnishment.
Can a collection agency garnish wages in the state of Oregon?
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 …exception is that a creditor garnishment can be active even though a child support garnishment may be in affect.
If they get a judgment against you, Colorado does permit wage garnishment.
Only with a court ruling against you, but you be served court papers before that can happen.
Yes, but only after you are sued, lose and have a judgement against you.
No - if you've defaulted on payments to the card company, they have the right to recover their money by any legal means. By the time they're telling you they're about to garni…sh your wages, they've usually sent numerous reminder letters - which you've obviously ignored.
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…r's disposable income, with the first 30 x minimum wage allowance (weekly based) being exempt from attachment.
Yes...PLS check the status of limitations in California. Each states may vary.