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arizonalaw · Jun 20, 2008, 09:17 PM

I am in Arizona and I have just beem summons for a judgement on a credit card dedt. Can they put a lien on my home of garnish my wages?

excon · Jun 21, 2008, 06:43 AM

Hello arizona:

No, they can't lien your home. Yes, they can garnish your wages.

excon

JudyKayTee · Jun 21, 2008, 08:22 AM

Originally Posted by excon

Hello arizona:

No, they can't lien your home. Yes, they can garnish your wages.

excon

Yes, they can take 25% of your pay after taxes.

progunr · Jun 21, 2008, 08:53 AM

Originally Posted by excon

Hello arizona:

No, they can't lien your home. Yes, they can garnish your wages.

excon

If they have a valid judgment, why can they not obtain a lien against the property?

I don't see where this is prohibited in Arizona?

excon · Jun 21, 2008, 09:01 AM

Hello again, Prog:

Credit card debt is NON secured debt. It CAN'T be turned into SECURED debt simply because they won a lawsuit. Otherwise, there really isn't any such thing as non secured debt.

excon

progunr · Jun 21, 2008, 09:14 AM

I have heard of many liens, placed on property, by credit card debt judgments?

Here is one quote from a Debt Resolution Service on the topic:

How are liens attached to your property?

First a creditor must summons you to appear in court and win a judgment. In about half of all states, once a creditor wins a judgment, a lien is automatically placed on your property in the county in which the judgment was won. In the other states, the creditor must record the judgment with the respective Secretary of State, Circuit Court Clerk, Recorder of Deeds, etc.

Even if it is not an actual lien, don't most lenders, require that any judgment on your credit bureau be satisfied or dismissed, prior to the sale or purchase of a home?

excon · Jun 21, 2008, 09:28 AM

Hello again, Prog:

You make very good points. I believe that credit card companies do it routinely too. I just don't think they're allowed to by law.

Of course, I'm sure they've written in their contracts the RIGHT to lien property. They change those contracts all the time. You probably received numerous updates from your credit card company. Updates that are extremely long, written in legaleze and in VERY small letters... I get 'em all the time. Do I read 'em?? Are you kidding?

They're the only industry who, with the blessings of Congress (no doubt the earlier Republican lead one), can change the interest rate they charge you anytime they want to, unilaterally, for no reason at all...

So, I'm not surprised that they get away with it . I STILL don't think it's legal... But, I harbor many such thoughts.

excon

PS> I do agree that a lender would require any judgments to be paid off.

progunr · Jun 21, 2008, 10:03 AM

[QUOTE=excon]Hello again, Prog:

They're the only industry who, with the blessings of Congress (no doubt the earlier Republican lead one), can change the interest rate they charge you anytime they want to, unilaterally, for no reason at all...

Excon[QUOTE]

Yes, they can, and they do. Fortunately, the legislature has passed some restraints on these vultures and these practices.

Unfortunately, they won't take effect until close to the end of this year.

JudyKayTee · Jun 21, 2008, 11:20 AM

Originally Posted by arizonalaw

I am in Arizona and I have just beem summons for a judgement on a credit card dedt. Can they put a lien on my home of garnish my wages?

When you say you received a summons for a Judgment - these are two different things.

Did you receive papers to go to Court for a hearing on a past debt?

OR did you receive a copy of a Judgment in the mail.

If you received the copy of a Judgment - is it legal? Were you served with the original papers?

Do you have a defense to the non-payment of the debt?

You appear to be making the jump from summons to Judgment -