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what can they take? - unsecured debt + judgements

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Hello,

Currently I'm a full time student, with ~ 31,000 in CC debt. As far as assets are concerned, I have a home (~65k) and a car (~1k) that I own, w about $500 in home equity.

I have never missed a payment on my home in over 2 years, and there are no leins on my car. My CC history was impeccable until about 5 months ago.

With unsecured debt, what are their options?

I live in Indiana.

Can they take federal student loan $$ if I deposit it into my account?

Can they put leins on my house, car, etc. if they sue for a judgement?

Thank you,

guesty




guesty,

Feel free to register with this forum and a counselor will contact you and discuss your options. Your unsecured debt can be consolidated into one monthly payment.

Sub: #1 posted on Fri, 07/28/2006 - 12:11

Not so Lucky Not so Lucky

(Posts: 3042 | Credits: 534.59)

You will get some options after discussing the accounts with your counselor. Credit card companies cannot put liens on your home for unsecured debts. They might try to get a judgment against you in the court but if you are able to keep the accounts current and make partial payments, the judge will rule the case in your favor. Besides, the credit company has to follow the orders of the court if they win a judgment. I believe the judge won't give them the access to take out money from your federal student loans.

Sub: #2 posted on Fri, 07/28/2006 - 13:03

anthony anthony

(Posts: 455 | Credits: 96.33)

Hi.
I have found my self in a dire situation, I was laid off of my
job in early dec. up till then I had not missed a payment on
my home, cars or any of my other creditors.

Here is the deal, I am facing foreclosure, repo of one vehicle.
I will be able to keep up most of my cc. but I also have huge
medical bills.

I am currently getting UI pay but that will end when I get a
settlement from workmans comp.

I am planning on getting an rv of some sort to live in untill
the economy get back to a positive or?

my question is can these collection agents attach my ckng
account, or my disability income??

Sub: #3 posted on Sat, 01/24/2009 - 10:29

Unregistered


If you are unable to even make partial payments to the collection company - after the credit card company has handed over your account - what kind of judgement would a judge put on you to pay these debts? Would you be able to go into a credit resolution at that time or is it too late? Would they take any income that you make since you say they can not lien on your house.

Sub: #4 posted on Thu, 02/26/2009 - 13:18

Unregistered


well i think what the above poster was mentioning is the cc personally cannot put a lein on your home, but a judge can if you have to appear in court but you must be summoned to court.

the cc companies cant do anything. The only thing they can do is sue you and summon you to court. Now the judge can (depending on your state and laws of that state) attach wages, put lein on home, force a payment plan.

but the cc cant do this. it all must be done through the court.

Sub: #5 posted on Fri, 02/27/2009 - 11:13

love_my_things love_my_things

(Posts: 1434 | Credits: 128.32)

I have a judgement for a capone acct. Then a lawyer calls and tells me I have to pay them. Do I have to pay them ? If not what could happen?

Sub: #6 posted on Sat, 05/30/2009 - 09:35

Unregistered


I have been laid off twice since Jan 2009 and worked off and on in 2008. I had a healthcare loan from CapitolOne, and I couldn't make the $350 payments last yr. They sold it to credit collection agencies... I am summond to go to court MONDAY - tomorrow A.M. If I go, what will they say, IF I AM UNEMPLOYED AND CANNOT MAKE THE PAYMENTS??

Sub: #7 posted on Sun, 05/31/2009 - 13:00

Unregistered


i HAVE A JUDGEMENT AGAINEST ME. I WAS WONDERING IF THERE ABLE TO TAKE THE MONEY FROM MY CHECKING ACCOUNT? I HAVE'T MADE ANY PAYMENTS SINCE 2006.

Sub: #8 posted on Mon, 06/22/2009 - 08:27

Unregistered


What state do you live in?

Sub: #9 posted on Mon, 06/22/2009 - 08:30

NASCAR_Devil NASCAR_Devil
Moderators Cum Industry Expert
(Posts: 4666 | Credits: 308.23)

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