2006-08-20 11:00:42 · 9 answers · asked by mrga1024 1 in Politics & Government ➔ Law & Ethics
If it was used as collateral on a loan, I suppose they could go after it for non-payment on the loan.
2006-08-20 11:06:24 · answer #1 · answered by Nosy Parker 6 · 0⤊ 0⤋
No they can not even in bankruptcy you get to keep a car. they might in some circumstances make you sell it and get a cheaper one in bankruptcy. Now did you purchase the car on a credit card??? if so i don't know, but usu sally only the lien holder of the car , the place you bought it ,can repossess it. not some other company you owe money to
2006-08-20 18:07:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on the state you are in. They must first sue you to get a money judgment. Once they have a judgment, they can use laws of your state to collect the judgment. In California for example, the judgment creditor cannot have your car sold unless the car is valuable to enough to pay the liens, pay the debtor the equity that is protect by law and cover the costs of the Sheriff's fees to conduct the sale.
2006-08-20 20:42:08 · answer #3 · answered by Carl 7 · 0⤊ 0⤋
I work in the credit biz so this is easy. Cars no. Real estate, bank accounts, Income from employers YES!
2006-08-20 18:10:12 · answer #4 · answered by wifiguy 1 · 0⤊ 0⤋
Depends on the state. In Texas, no. Primary residences and cars are protected.
2006-08-20 18:05:14 · answer #5 · answered by Maureen F 3 · 0⤊ 0⤋
no!
they can sue you and recieve a judgement against you, but they can not take your car. The only way that someone can take your property is if it is used at security for the credit that you are not paying on.
2006-08-20 18:06:38 · answer #6 · answered by whatelks67 5 · 0⤊ 0⤋
yes, it happened to my inlaws several years ago. Park your car at a friend's house.
2006-08-20 18:06:29 · answer #7 · answered by mel 4 · 0⤊ 0⤋
For their sake i hope not. I'll shoot anyone who tries to take mine.
2006-08-20 18:05:30 · answer #8 · answered by chupakabra123 5 · 0⤊ 0⤋
that would really suck, but they think they can do what ever they want
2006-08-20 18:06:12 · answer #9 · answered by ? 5 · 0⤊ 0⤋