2007-11-21 06:07:45 · 2 answers · asked by dbastin521 1 in Business & Finance ➔ Credit
Absolutely. And they can garnish your wages. This means that they can take a part of your paycheck directly from your employer until you pay off your credit card.
2007-11-21 06:17:07 · answer #1 · answered by RmW 2 · 0⤊ 0⤋
Yup. If you don't pay, they seize your assets and pay themselves out of that.
This means:
- any bank, mutual fund or brokerage account that you have now AND any you may open in the future.
- a lien on your car, AND any you may buy in the future.
- a lien on your home, AND any you may buy in the future.
In fact, you might not be able to get a car or home loan because the judgment would pre-date the loan and the creditor with the judgement would be able to take the collateral out from under the loan.
2007-11-21 15:34:18 · answer #2 · answered by Ted 7 · 0⤊ 0⤋