I entered into a agreement with a creditor to pay off an account I fell late on the payment and they entered a default and a judgement was ordered. I had paid 1,500 so far out of 5,000. They levied my bank account for 1,300 and now I'm afraid that they will seize my car. Can they do that if I have a loan on my car and the value is more than the balance due on the Judgement? I live in FL.

Hello magsy:

It really depends on the agreement you have/had with the creditor. If it's UNSECURED debt, like a credit card, they can't get your car.

excon

Also depends on any other loans against the car -

Hello magsy:

It really depends on the agreement you have/had with the creditor. If it's UNSECURED debt, like a credit card, they can't get your car.

excon


This was a small claims judgement and it had nothing to do with the car it was for an unsecured debt. The car has a loan of about $15,000 and is worth about $25,000. It is under my name only.

This was a small claims judgement and it had nothing to do with the car it was for an unsecured debt. The car has a loan of about $15,000 and is worth about $25,000. It is under my name only.


That's what I meant - sorry if I confused you. They could not seize your car for this credit card debt because there is already a lien on it by the loan company/bank - in your case for $15,000. After that note is paid off, in certain States, yes, they can move against the car. The more practical question is does the holder of the judgment actually WANT the car - probably not!