Can a credit card collection agency take your car in new york after a court judgement?

Question

Can a credit card collection agency take your car in new york after a court judgement?

Answer 1

If it's the car that you owe for then they'd just be reposessing it. If they are trying to get their hands on a valuable asset in this case your car...they can get a judgment to do so, which in turn they'll sell to try and settle what you owe.

Answer 2

what i'd do is just have the car put in2 some 1 else's name. NEXT, I'd bring ALL my $$$ home OR start another acct elsewhere so the creditors cannot touch it. B4 court IF U get papers OR even if U THINK u'll get served, go 2 the bank & pull out ALL yer $$$. they cannot touch u if yer on SSI tho.....

Answer 3

yes if it is  the is the ruling of the court!!!

Answer 4

If they have a judgment, they would go after your bank account and garnish your wages before they would lien your personal property, especially a car.  They want money, not merchandise.

Answer 5

I guess if you own the car (its paid off), but they may just garnish wages and thats a certain %. Sell your car to your mom or someone for a dollar and then put their names on the title and then unless she runs in to the same problem then no one can touch the car. But only do that with someone you trust 110%.

Answer 6

Chavon F, I found a huge list of New York local credit card resources. http://www.howtofindcreditcard.com/New-Y... Try calling a nearby company and they can answer your questions.

Answer 7

Collections agencies in general are good at knowing exactly how far they can push something before getting into trouble. Depending entirely on what you meant  by after a courts judgement and how much debt you have, they will probably try to take your car, legal or not. The NY judicial system is packed with tons of cases and the collections agency knows this. If they take your car and sell it, you will take them to court, and it might take 2-3 years to get an actual trial date set. Even if you win they can claim on behalf of the credit card company they will subtract it from the amount you owe them. Furthermore, seeing that you are in debt they will you will find out quick that hiring a lawyer is much more costly than getting another car.

Sorry about overwording that, what I am saying is legal or not, right or wrong, a collections agency is judged on their ability to squeeze every penny out of the mark they are working. Hopefully they won't try to take your car, but I hope you have a garage, because I would not put it past them.

Answer 8

Bdancer is the only one who answered correctly.

Credit card debt is unsecured debt. They can place liens on property and get paid if you should sell the liened property, but they cannot seize property for unsecured debt judgments.

The only thing they could seize is your banking accounts, as long as the funds in the account is not from Social Security or from other exempt funds such as pension plans, education funds, etc.

The wage garnishment in NY is: 90% of earnings are exempt, except the first $127.50 week is wholly exempt.