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Debt Consolidation Forums Collection agencies and creditors

Can collection agency take my inheritance?



Tood Williams

Sub: Can collection agency take my inheritance?
Thu, 10/03/2011 06:02

I received half of my father's estate few months back. The other half went to my brother. I owe around $40,000 on credit cards. The debt is around 4 years old. Actually, I had forgotten about the debt also. Last week, I received a call from a debt collection agency. They threatened me that they will take my inheritance if I don't repay the debt. Can they really do that?



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OhioGal1
OhioGal1


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Sub: #1 How do they know about your inheritance to begin with? RegardleThu, 03/10/2011 - 06:02



How do they know about your inheritance to begin with? Regardless, it depends. What type of debt is it? Have you received a letter of collection? Were you afforded the opportunity to have these debts validated? If youknow you owe the money, make sure the collector calling you is legit and if so, work out a settlement offer. If you've made them aware that you've come into some money, they may sue you. If you are sued and a judgment is obtained against you, they may be able to levy your bank account(s) and/or garnish your wages.

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Unregistered

Sub: #2 No, debt collectors can't take away your inheritance or compel yThu, 03/10/2011 - 03:53



No, debt collectors can't take away your inheritance or compel you to sell your property.


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