I bought a car and financed it through a credit union. Was in an accident with no insurance, and was unable to pay for the car. I was served a summons because they are now suing me for the money for the car, but was unable to answer it. I have no defense against owing them the money. So now they send me a letter saying that I am in default for not answering the summons. I guess what I need to know is, what can they take from me once they get the judgement. I have two kids, and I'm struggling as it is. Can they take my home, vehicles, etc. And can they garnish wages or my bank account. I tried talking to the lawyers for the credit union about paying back the money in installments, but they wanted more per month than I could afford. I just need to know what they can do to me, and what precautions to take.

Yes, they can garnish wages and/or a bank account. Here is some helpful info about the limits for each state:
State wage garnishment and attachment rules

You probably know that you should have shown up for the court date. It can never hurt to "throw yourself at the mercy of the court" and tell your financial situation in the hopes that they will be lenient.

As stated, had you showed up in court, the judge may have allowed you to make payments of the lower amount, maybe not, but you had a chance since it would look bad on them not to try and work it out.

Now they have a judgement, so yes their next step will be a garnishment, the amount will be determined by your state law. It is basically 25 percent to 50 percent of your take home pay.

Hello kim:

AND, they can put a lien on your house and take your cars. Bankruptcy may stop it.

excon