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Re: Answered the summons! Now what?
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Posted by J Kelly
(151.197.46.2) on May 13, 2004 at 16:28:45:
In Reply to: Answered the summons! Now what? posted by Kim on May 13, 2004 at 14:22:27:
What state are you in? How old is the debt? When was the last time you paid the original creditor before the account became deliquent?
Motorcycle, if it is in your name, and worth something - maybe. PROBABLY NOT THOUGH. By the time they pay the fees to take legal possession, the lien holder has to be paid, and this would be sheriff sale or auction, so they wouldn't really get a lot for it........probably not worth the time. Mobile home is your homestead exemption, again, depends on your state. Your car is not worth anything, and you are self employed, can't garnish! I really can't think of anything they can do to you. However, if they get a judgement, and your circumstances change down the line a few years, and they find assets, they can execute at that time. You really should try to avoid a judgement if at all possible. They can freeze/seize bank accounts if they get a judgement, or if they can convince a judge that you will take the money out of the bank in order to avoid paying the debt, they can freeze the account. So, if they have your current banking info, change banks, get an account with somebody else as primary if possible. If you have anything in savings. Get it out of the bank. Protect your banking info NOW, NOT LATER. That is where they will look first.
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