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    magsy17's Avatar
    magsy17 Posts: 2, Reputation: 2
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    #1

    Oct 26, 2007, 03:42 PM
    Default Judgement
    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.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Oct 27, 2007, 06:03 AM
    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
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Oct 27, 2007, 07:18 AM
    Also depends on any other loans against the car -
    magsy17's Avatar
    magsy17 Posts: 2, Reputation: 2
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    #4

    Oct 27, 2007, 02:51 PM
    Quote Originally Posted by excon
    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.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #5

    Oct 28, 2007, 08:41 AM
    Quote Originally Posted by magsy17
    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!
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