Does New York law prohibit wage garnishment for unsecured credit card debt? Is it true? If true, then what the collection agency that has or will have a judgment can do to force payment if I have absolutely no assets and no bank accounts?
2007-05-02 08:48:05 · 3 answers · asked by Eddie J 1 in Politics & Government ➔ Law & Ethics
I have been told by a very credible sourse that in New York, wages can't be garnished by collection agencies in effort to collect credit card debt. Please answer if you are sure. I just wanted to hear this from a second source.
2007-05-02 11:07:13 · update #1
No, I don't think a credit card company can garnish your paycheck. That's only for federal stuff like student loans, child support, taxes, that kind of thing. All a credit card company can do is send your debt over to a collections agency. If they still don't get paid, the company will eventually write off the debt and just take it as a loss. But in the meantime, your credit report and score will be destroyed.
2007-05-02 08:56:19 · answer #1 · answered by CrysV 5 · 0⤊ 3⤋
If the creditor (any creditor including credit card company) has taken you to Court and been granted a Judgment against you, and they find out where you work, yes they can garnish your wages - up to a certain percentage - for as long as the judgment remains open. If you file bankruptcy, and include that creditor, and any other one, then the garnishment will cease. Now, I've had people quit jobs just to get out of their garnishment. So, sometimes its hard to find them, and then the creditor has to start all over with the service of the judgment all over again.
2007-05-03 06:53:58 · answer #2 · answered by Tammy C 4 · 1⤊ 0⤋
Once there is a judgement anyone can garnish your wages.
2007-05-02 10:01:15 · answer #3 · answered by Scotty 4 · 2⤊ 0⤋