Re: Paying questions

Posted by LadynRed (199.91.33.254) on February 07, 2003 at 11:50:37:

In Reply to: Re: Paying questions posted by cmo317 on February 07, 2003 at 10:51:03:

They probably couldn't have siezed your car at all !! They'd have to sue you and win, first, and that takes time. Once they get a judgment, they can still ONLY go after non-exempt assets. You can find your state's exemptions from judgments at the link below, its typically the same as bankrtupcy exemptions. If your car was financed and you had littel equity in it, then they could NOT have touched it !

If you pay them ANYTHING, the entry 'paid collection' will stick to your credit report like glue for SEVEN YEARS from the date of your final payment, now way around that.

BTW, the threat of siezing your car - 99% probability it was an ILLEGAL threat under the FDCPA - they cannot threaten action that they do not intend to take or cannot legally take. Read the FDCPA and learn your rights and their restrictions.

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