Tuesday, July 14, 2009

Credit card debt.?

what can they do to us.



can they take our s s checks?



Credit card debt.?

If you don%26#039;t have any assets, they can%26#039;t do much to you.



If you have a nice home and other assets, they could get a judgment against you and try to go after your assets.



By law, creditors cannot seize or garnish Social Security checks. But this is what happens. Your Social Security check is electronically deposited into your bank account. The credit card company gets a judgment against you and seizes the bank account anyways. This happens all the time. There%26#039;s not much you can do about it, even though the creditors aren%26#039;t suppose to touch Social Security payments.



If you owe a lot of money to credit card companies, speak with a bankruptcy attorney. If you file for Chapter Seven it could possibly wipe out all of your debts. (Certain debts cannot be eliminated in bankruptcy, such as student loans, taxes, child support and fines imposed by a court.)



I filed for Chapter 7 Bankruptcy a year ago and it cost $1,200. I%26#039;m very glad I did it. I didn%26#039;t have a choice.



Good luck.



Credit card debt.?

they can take a proportion of what income you receive and also items that are under your name to the value.

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