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View Full Version : Cap filed suit over credit card


bohmlimo
Feb 13, 2009, 06:55 AM
CAP ONE filed suit Over A credit card If they get A judgement can they repo my 1995 taxi that I own outright? It is what I make A living with.It is the only item I own.

ScottGem
Feb 13, 2009, 08:26 AM
Probably not, though it may depend on where you live. Also it will depend on how your business is setup. You really should be an LLC at the least.

bohmlimo
Feb 13, 2009, 08:33 AM
I live in Ohio,and am sole proprietor.

ScottGem
Feb 13, 2009, 08:36 AM
Big mistake being a sole proprietor. If you have an accident in the cab, you could be totally wiped out, even with insurance.

But I do think the cab is protected from attachment for unsecured debt.

bohmlimo
Feb 13, 2009, 08:38 AM
Ok ,thank you for the info.