2006-12-12 16:31:52 · 11 answers · asked by shelby 1 in Business & Finance ➔ Credit
No, credit cards don't repo items. They jack your interest rates up to 30%, hit you with tons of fees, lower or shut off your available credit until you pay. If you don't, they just write off what you don't pay after time. And you will have that on your credit record until you pay. Think about all the stuff they would have if they repossed items!
2006-12-12 16:38:52 · answer #1 · answered by Joe S 6 · 0⤊ 0⤋
NO, they might try and tell you they can but you fire back at them and tell them they're harassing you by all this bull sh*t and tell them...don't call or send anymore letters, send me a court order and we'll both tell the judge about the threat of repo's, lies and harassment. they'll back off and stick to the issue at hand.Also, you might want to tell them straight up...Look,It's not that I don't want to pay this bill, it's I can't! I'm backed up, I don't have enough money to even eat on right now but when I do have the money, your first on the list. I have found that this works pretty good in the past and they will most likely, give you some space.Good luck to you. and kick they're a**'s for me too. LOL
2006-12-12 16:46:38 · answer #2 · answered by dhwilson58 4 · 1⤊ 0⤋
even as someone places a lein on your position it frequently means that in case you promote it you've the quantity owed garnished out of the proceeds of the sale. when you're nonetheless paying on the residing house then they could't take it faraway from you, it doesn't belong to you. till you're making your very last charge that is owned with techniques from the loan lender. It appears like they're only attempting to scare you. i do not comprehend the position you stay, yet right here in Tx. you've what's termed residing house Exemption, it prevents you from dropping your position because of debt except the loan, or foreclosure. A mastercard can not foreclose on a loan with techniques from a loan lender, in elementary words the lender can foreclose.
2016-11-30 12:35:27 · answer #3 · answered by binford 4 · 0⤊ 0⤋
They can however take you to court, get a judgement, and then put the lien against your name. In this case, you will get bad credit and not be able to do many things until they are paid.
Ask them to correspond with you only in writing, and say it in writing to them and they will quit calling.
Also,, try to pay it off.
2006-12-12 16:36:16 · answer #4 · answered by batwanda 4 · 0⤊ 0⤋
The simple answer is NO! Creditors for credit cards and other unsecured loans cannot come after your car. Only the bank for a car loan or a title loan lender can repossess your car for non-payment.
2006-12-12 16:36:35 · answer #5 · answered by Guru Sharma Prasad 4 · 0⤊ 1⤋
Credit card debt is unsecured this means that they have no rights to property. However they could sue you, win and get your wages garnished.
2006-12-12 16:37:21 · answer #6 · answered by VATreasures 6 · 0⤊ 1⤋
so long as the bank doesnt own it
2006-12-12 16:34:57 · answer #7 · answered by s p 4 · 0⤊ 0⤋
if and only if they get a court judgement to do so.
2006-12-12 16:35:09 · answer #8 · answered by Steve 4 · 0⤊ 0⤋
nope
2006-12-12 16:34:32 · answer #9 · answered by cats4ever2k1 5 · 0⤊ 0⤋
no they cannot and if they are threatening you with those consequences its illegal.
2006-12-12 16:46:18 · answer #10 · answered by Anonymous · 0⤊ 0⤋