Due to relocation for employment purposes I was recently forced to surrender my mobile home back to the lender. I am now told that once they sell it I will be billed for any deficieny and that they have the right to garnish my wages. How can I protect myself not to mention my previously perfect credit rating?
2006-06-27 13:02:14 · 5 answers · asked by partmexi 1 in Business & Finance ➔ Credit
After a repo, the only way they can legally garnish your wages is by filing a lawsuit and winning.
If they try to garnish without a judgment, sue them.
And, alot of what they can do after winning a judgment, as far as being paid, depends on the state statutes.
That is, if you did not sign your rights away when you surrendered the mobile home.
2006-06-27 16:12:12 · answer #1 · answered by echo 7 · 2⤊ 0⤋
No, in uncomplicated phrases the federal authorities can garnish your wages and that i trust that's in uncomplicated phrases relating to decrease back baby help owed through the AFDC software. No monetary company has the means to garnish your wages. What they do have the means to do is sue you and positioned a judgment adverse to you. you want to look up the criminal ramifications of having a judgment adverse to you because i'm no longer optimistic precisely what all that involves. in case you DO enable your position foreclose, note that there is a good probability that you would have a confusing time being waiting to purchase a house for the subsequent 7-10 years. something to imagine about.
2016-11-15 08:27:20 · answer #2 · answered by ? 4 · 0⤊ 0⤋
They will have to sue you before they can garnish your wages or levy your bank accounts.
It would have been a better idea for you to try to sell it yourself, but that advice won't help you now.
2006-06-30 05:35:15 · answer #3 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
Sell the Mobile home yourself. Or pay it off . No other way.
2006-06-27 13:06:28 · answer #4 · answered by ? 6 · 0⤊ 0⤋
lease the place out and BELIEVE me you will have many takers
request 2 months rent in advance just in case it goes bad
2006-06-27 13:09:52 · answer #5 · answered by Scanless1999 3 · 0⤊ 0⤋