Can credit card companies put a lein on your car/property?

Answer 1

NO! The best they can do is sue you, if a judge gives them a judgement because they win the case or you don't show up to court, they can garnish your wages/checking account. The laws vary from state to state, so if you do get sued I would strongly recommend consulting a lawyer. However, generally credit card companies do not have the resources to take you to court, unless you owe them a huge amount (25K+). 9 times out of ten they will charge your debt off, and most likely will refer you to a collection agency. Besides the annoying phone calls/letters and the fact your credit will be ruined for up to 7 years, they cannot force you to pay without winning a lawsuit against you.

Answer 2

Credit card debt is offered as non-secured debt. So they would have to get a court judgement, and most courts won't grant one to them, since credit card debt is considered high risk assumption. But they can trash your credit, which might keep you from getting a second mortgage on your property, or force you into a higher interest rate.

Answer 3

Not directly. If the sue you and secure a judgment, the court may grant a lien on your property.

Answer 4

Possibly. If they take you to court and get a writ of attachment, it's possible. More than likely, they'd probably try to go after your wages, checking accounts, etc. Pay your bills.

Answer 5

In Ohio, federal regulation presides over state regulation in this count. usually, Social safe practices advantages are exempt from execution, levy, attachment, garnishment, or different legal procedure, or from the operation of any financial ruin or insolvency regulation. The exceptions are that advantages are difficulty: (a million) to the authority of the Secretary of the Treasury to make levies for the alternative of antisocial Federal taxes and below particular circumstances antisocial baby help funds; and (2) to garnishment or similar legal procedure delivered by skill of a man or woman to implement a baby help or alimony legal responsibility. section 207 of the Social safe practices Act delivers: "the right of all of us to any destiny charge below this call shall no longer be transferable or assignable, at regulation or in fairness, and not one of the moneys paid or payable or rights present below this call will be difficulty to execution, levy, attachment, garnishment, or different legal procedure, or to the operation of any financial ruin or insolvency regulation." in spite of the indisputable fact that, at the same time as it includes series techniques, undergo in recommendations this The honest Debt series Practices Act does no longer follow to important mastercard banks? it applies only to the series attorneys and specialist debt series businesses they'd employ. unique lenders are regulated by skill of state regulation; in spite of the indisputable fact that, the important mastercard businesses follow regulations that heavily reflect those of the FDCPA and could adjust on your request to offer up phoning you at living house and artwork, etc., only as in case you've been coping with a series service. in case you've self belief you've been wondered by skill of an unique creditor, or that the unique creditor has carried out some thing unlawful or threatening in course of you, then analyze your state regulations on the issue and communicate to the right authorities to record a suitable grievance. regularly, the legal specialist accepted on your state is the right authority to the contact. wish this solutions your question

Answer 6

Oh yes...and they do. They have to sue you first and get a judgment against you. If you still don't pay, they can attach a lien or garnish your wages.