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tigerstripes14009 · Jan 24, 2007, 06:57 PM

I was contacted by a creditor saying that there will be a summons issued to me for a debt I owe. I have never been sued before and I am not sure how this works. My main question is what assets can a creditor go after after there is a judgement awarded? I know they can garnish you wages and get money from you rbank accounts. However I do not have a savings and my checking account has 80 dollars in it. My car is old and I do not think they will get much. Will they go after things like my furniture, clothes, TV? Is there a list somewhere of things a creditor can go after once a judgment is placed? My debt isn't that much... like 1-3 k per credit card and I am working with a few to pay it off. I guess I am owrried that they will try to take my house and such but for such a small amount of money can they do that? If any one has any general information I am happy to hear it and if any one has any NY specific info I am happy to hear that too. Thank you. :(

chippers · Jan 24, 2007, 07:21 PM

First relax a moment before you sell the farm. It's a scare tactic to get you to pay up.
It takes a while before they can get a judgement.

First contact them and tell not ask that they send proof to validate their claim. They have 30 days to respond to you. Then once they do that and it still doesn't agree with you you can dispute it.

Regardless of where you live in the us, all creditors fall under the ftc's fair credit and collections act.(I'd check out that web site for more detail and what your rights as a consumer are.

I would write them and send it registered that way you get a return receipt that they got it. In your letter, I would also state that they are not to call you anywhere at all. By the ftc's guide lines they must comply. This keeps them from retracting anything they told you on the phone.

If they start harassing you, write the ftc and your states attorney general's office. They do look into these things.

Also keep all your records and anything they send you and you send them.

If indeed you do owe them, you can usually make a payment plan. They have to accept a reasonable payment amount. If not let it go to court. Show the Judge you made every attempt to work out a payment plaln. If the court orders a payment schedule then they havwe to abide by it.

Also if you do in fact owe the money, you can contact a credit counselling service instead of trying to work out a plan with them on your own. They can act as a go between you and the collection agency for a nominal fee if any.
That way can avoid court where you would be responsible for court costs and attornies fees.

Good luck. I hope this helps

superbowl32 · Mar 4, 2007, 05:26 PM

Why don't you just answer the guys question. What can they take?

chippers · Mar 4, 2007, 05:45 PM

Originally Posted by superbowl32

why dont you just answer the guys question. what can they take?

I did anser her question and referred her to credit councilling services, who can tell her more about New York law. So next time don't be sor rude.

ScottGem · Mar 4, 2007, 07:42 PM

Chippers answer was very good and helpful. I think it more important to tell the OP how to deal with the summons then get specific about what assets might be at risk.

The likelihood is they cannot and/or will not go after personal property. Most state prohibit it and its just not worth their while to seize and auction the property off.

superbowl32 · Apr 16, 2007, 01:05 AM

[My main question is what assets can a creditor go after after there is a judgement awarded?

This is the question that they want answered. The answer is checking accounts, property,boats, if you have a really expensive paid off car- they can go after that. Most states will let you have a car if its under 2 or 3 thousand. Look in your state statutes. You can also take one time exemptions to protect assets. This is all in your state statute code. Don't talk to an attorney or credit councelor because they just want your money. Fight the credit card people as much as you can. Look it up yourself. If it goes to court and they do anything wrong like lie to you- sue them for abuse of process. Fight them with every little tiny detail. Most people who post in here just want your money. Read the rules of procedue for courts. Are you being sued in county or district court or small claims cause the rules are different. But they are online . If you have the time you can beat them at their own game. Sue them back fast and hard ask for billing records, notes, documents - find inconsisticies- catch them in a lie and screw them back.

d787prel · Aug 5, 2007, 05:33 AM

Originally Posted by superbowl32

[My main question is what assets can a creditor go after after there is a judgement awarded?

this is the question that they want answered. The answer is checking accounts, property,boats, if you have a really expensive paid off car- they can go after that. Most states will let you have a car if its under 2 or 3 thousand. look in your state statutes. you can also take one time exemptions to protect assets. this is all in your state statute code. dont talk to an attorney or credit councelor because they just want your money. fight the credit card people as much as you can. look it up yourself. if it goes to court and they do anything wrong like lie to you- sue them for abuse of process. fight them with every little tiny detail. most people who post in here just want your money. read the rules of procedue for courts. are you being sued in county or district court or small claims cause the rules are different. but they are online . if you have the time you can beat them at their own game. sue them back fast and hard ask for billing records, notes, documents - find inconsisticies- catch them in a lie and screw them back.

I live in Kansas and I do have a POA. The debt is owed however I don't have the funds to pay them. That is why I went to a debt settlement company. The debt is a unsecured debt so they can't put a lien on anything. Taking me to court is not going to get them paid any sooner.

JONATHEN · Aug 28, 2007, 11:13 PM

I have about 30.000 in credit card debt,and have been unemployed in Mich, even though I
Have no property, or own a car,all of these things are in my wife's name only my concern is can they touch our tax refund ,filed jointly which stated me as unemployed?

ScottGem · Aug 29, 2007, 05:36 AM

Originally Posted by JONATHEN

I have about 30.000 in credit card debt,and have been unemployed in Mich, even though I
have no property, or own a car,all of these things are in my wifes name only my concern is can they touch our tax refund ,filed jointly which stated me as unemployed?

First, its not a good idea to piggyback your question on someone else's thread. This tends to cause confusion. So I've requested this be moved to its own thread.

Anything that you own jointly is subject to attachment. You might be able to vacate the attachment of a tax return that included no income of your own, but I doubt it.