2007-11-25 23:44:47 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
No. They can seize your assets if it is clear you have anything substantial to seize in order to settle the sum, but can't take anything essential. But as for unsecured debt, they really can't do anything since its an unsecured debt. Child support payments, forgery, etc. are different.
2007-11-26 00:02:14 · answer #1 · answered by Runa 7 · 0⤊ 1⤋
I am amazed by people who have not got a clue what debt counseling is really about. Apparently there are a great number of people who think that cccs is the same as Bankruptcy..... be careful listening to them, they haven't taken the time to actually research the subject..... They repeat what they hear.
For example my cousin just got a 0% rate on her new vehicle and she has been in cccs for a few years, did I mention her house is at a lower rate then mine? my credit is great, hers has cccs marks. There are a lot of misinformation floating around about many of the debt relief options.
There is no such thing as debtors prsion.
However you will face consequences for not paying debt back according to the laws in your state. Every state is different.
Kourtnie
www.debthardship.com
2007-11-26 11:49:49 · answer #2 · answered by Kourtnie D 4 · 0⤊ 0⤋
If your debt was incured, and was from the use of a credit card or if you entered into a contract to make payments then you ARE Liable for the debt you incured.
However there are certian cirumstances that can not make you liable for other types of debt that you have incured depending on certian factors.
2007-11-26 00:04:00 · answer #3 · answered by Don M 7 · 0⤊ 2⤋
Actually yes, if you owe something, you just don't stop paying. They let you borrow their money, now they want it back and they have a right to. I would seek help for your debt. Try Financial Peace University. Dave Ramsey has a great program for people with bad credit problems. Whatever you do, don't go to debt councilors, they show up on your credit report just the same a bankruptcy.
2007-11-25 23:55:18 · answer #4 · answered by Anonymous · 0⤊ 5⤋
It is not illegal to be in debt unless it is to the government (customs/taxes etc).
2007-11-26 06:41:47 · answer #5 · answered by Personal Angel 3 · 0⤊ 1⤋
No, its a civil matter..unless its taxes
2007-11-25 23:51:40 · answer #6 · answered by Anonymous · 1⤊ 1⤋