Can the credit card company take my car? 7 Answers as of December 05, 2012Short story being sued by credit card comp judgment against me from three years ago husband just bought me new car in my name and now just received a non garnishment summons. Are they going to take my car? Being sued for $3000.
Havens Law, LLC | William Havens Nebeker
A credit card company can take your car if they have a judgment against you, even if the car was not collateral for the credit card. They must first get a judgment and then get a writ of execution. This allows them to seize any non-exempt property you have and sell it to satisfy the judgment. In Utah, a only $2500. That means if your car is worth more than the exemption, it can be seized and sold and you will get the exempt amount. Creditors will often try to garnish bank accounts and wage before they do this. You should seek the advice of an attorney who can explain your options and help you pick the best path to follow.
Answer Applies to: Utah
Gonzalez & Tybor, P.A. | Gabriel Gonzalez
The answer really depends on your situation. Florida has laws (very limited laws) that protect some of your property. That said, if you don't take action (either defend the suit, settle the debt, or file bankruptcy) its very possible you could lose your car.
Answer Applies to: Florida
Tom Scott & Associates | John Hauber
The answer depends on the lien-free value of your vehicle. Pursuant to Indiana Code 34-55-10-2-3 judgment defendant's in Indiana may designate up to $9,350.00 worth of personal property as exempt from levy by creditors. Therefore, if you have a $20,000.00 vehicle that is lien-free then you should discuss a settlement with the creditor. However, if you have a $20,000.00 vehicle subject to a $19,000.00 lien to a creditor, then the vehicle is exempt from collection. If you are concerned about the sale of your vehicle or other creditors, then you should contact a bankruptcy attorney or other legal consultant for assistance.
Answer Applies to: Indiana