Re: Need Advice on MBNA Account

Posted by Drew (24.59.27.46) on June 25, 2004 at 11:37:16:

In Reply to: Need Advice on MBNA Account posted by Indebt on June 24, 2004 at 11:42:13:

Ok here are some options. If they get the judgment, they might not be able to do much. First of all, NC is a tenancy in entirety case so that means that if the debt is only in one of your names, they can't attach your home if the home is in both of your names. So you need to figure out how the accounts are. They are going through with this judgment and the courtcase because they think that you have nonexempt assets they can attach or lien. One will be your house if both of your names is on the debt. If only one is on the debt your house is safe. NC is a no garnishment state so they can't attach your wages, but they think you might have some cash so they will go after your account. And you RV is fair game since it is a recreational vehicle. Do you owe a lot of money on it. If you do then it might be safe but if it is paid for, they will want the judgment (so they won't compromise) because they think they can get something from the resale of a recreational vehicles. Finance companies love recreational vehicles and motor boats. If you have one of those that are paid for, they like the judgments so they can seize the vehicle or boat.

So basically they are expecting to collect the whole thing. THey think you have more money than you are letting on. THey may have seen the recreational vehicle and decided to perform an asset check so if you have things like money market certificates, CDs, savings accounts, they want them.

THat is why they are not compromising. THey think they can collect it all.

Follow Ups:

Post a Followup