My husband had a credit card that he got behind on when he was furloughed from his job for almost 2 yrs. With interest and late fees, it got to 15,000.00. The credit company was going to to settle for around 3000.00 because my husband had been a customer (credit cardholder) for many years but it might as well have been 3,000,000 because we didn't have to the money to settle. So - it was sold to a collection agency and they are demanding over 15,000 from us and we know they couldn't have paid that much to the credit card company. Question - can they garnish his wages or file a judgement against us or our property - what can we do? We do not have the money to pay -still recovering from him being out of work.

Sorry to say, but they can file for garnishment against any income you have.

The collector must sue and take a judgement against your husband before his wages or bank account can be garnished.

Yes, before a garnshiment or levy on your accounts can happen there has to be a judgement issued by the court. As far as the amount they are asking for it could very well be with late charges,etc added on. Try to work with the collection agency BEFORE they take you to court because once they get a Judgement they have little reason to work with you. Check the laws in your state to see if your property would be exempt if it got to that point. If you truly can't see your way out of this then maybe bankruptcy is an option you would want to look at.

Depends on where you live, if you live in a state that allows garnishments, yes they may do that, they may also attach your bank accounts