I get a Social Security pension, a small Federal pension, which my health and life insurance come out of, and a very small Union pension, less than a 100$. If I stop paying my Credit Cards can they take any of my pensions? Had some problems, getting harder to pay even the minimum. I've heard YES and NO. I know it will kill my credit but what to do? THANKS
2006-07-15 02:29:15 · 4 answers · asked by earlbubblesnahunta 1 in Business & Finance ➔ Credit
It depends on which state you are in. In TX they cannot, in other states they can get a judgement against you and THEN attach your checks. (they have to have the judgement first)
I would suggest you contact Consumer Credit Counselors. They will help you lower your payments and interest so you can pay them off, as well as offer advice on how to avoid future debt. If you are living on pensions, you will need to avoid debt as inflation is already going to reduce the value (purchasing power) of your pensions, so adding debt is going to wipe you out fast.
Contact them. They will help you work it out so your pensions are not in any jeopardy.
2006-07-15 03:54:53 · answer #1 · answered by Lori A 6 · 0⤊ 0⤋
If you are having problems with your credit cards check out this website to see if this will help you.
2006-07-16 00:08:13 · answer #2 · answered by MR.biz 2 · 0⤊ 0⤋
Pay your bills. You already killed your credit.
Credit card companies will turn your debt over to a collection agency for pennies on the dollar, who will vigorously pursue you.
2006-07-15 09:32:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, they can not . Credit cards are UNSECURED debt and they can not garner your wages or any other income for them. They can keep you from buying other things on credit but thats about it
2006-07-15 09:34:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋