If my husband is getting sued by a credit card company, can they take our car if we need it for medical reasons on our daughter?
If my husband is getting sued by a credit card company, can they take our car if we need it for medical reasons on our daughter?
Hello racin:
If the bank gets a judgment, they can take ANY asset you have. Of course, I don't think they'll take a hoopti.
excon
You may be able to avoid judgment altogether by coming to some type of payment arrangement with the creditor. Perhaps a credit counselling agency may be able to help you in this regard.
You should also find out if your jurisdiction has restrictions on what can be seized by a judgment creditor. In Ontario, where we are located, creditors cannot seize a vehicle that is worth less than $5,650. And even if the vehicle were worth more then that, the court can, on compassionate grounds, deny the asset to a creditor.
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