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Can collectors seize my car

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Brody
Guest
Subject: Can collectors seize my car
 
 Posted on Thu Jun 03, 2010 5:00 am  
Hi,

I have a ton of credit card debt. And I have a car which is worth a significant amount. Can the collectors of my credit card debt somehow seize my car? I heard that it's only possible if they sue me, win and get a court judgment. I also heard that even in that case they may not be able to seize the car because it may be "protected property". Can someone please clear this up for me? I'm a resident of California, so the applicable law would be California.

Thanks.
Aaron

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675



48566 Magic Points
Subject: collectors seize car
 
 Posted on Thu Jun 03, 2010 9:11 am  
Hi Brody,

Only your car finance company may be able to seize the car. A credit card debt collector won't be able to seize your car. They can file a lawsuit against you. If they win the case, and a judgment is issued, they can either garnish your wages, or put a lien against your property. Lien is when you won't be able to sell the property on which the lien is put. Until you pay off the debt, the lien won't get removed.

Thanks,

Aaron
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Your Friendly Debt Buyer
Guest
Subject: Advice
 
 Posted on Fri Oct 01, 2010 5:58 pm  
In certain cases you can petition the court for asset seizure. They need a judgement for it, so basically until they sue you and win you're good.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1889



1356 Magic Points
Subject: credit
 
 Posted on Sat Oct 09, 2010 7:43 pm  
(Off the subject, a bit, here). FRIENDLYDEBTBUYER.....what is it you actually do? Sounds like you actually buy debt from people? I guess your name just 'stand out' to me. Laughing
Stacey



Joined: 03 Nov 2010
Stacey's page
Posts: 12



221 Magic Points
Subject: seizure
 
 Posted on Wed Nov 03, 2010 7:25 pm  
The only way to seize the car is to have it financed with the people saying they will seize it. No one else can take your car. If you have it as collateral on another loan, thats a different story.
I work for an auto financer and that rule applies to everyone. You can't take what you don't own.
Aaron

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675



48566 Magic Points
 
 Posted on Fri Nov 12, 2010 12:32 pm  
Quote:
The only way to seize the car is to have it financed with the people saying they will seize it.

Even when we enter into such agreements, we do make sure that we're more on the safer side. It has to meet certain conditions under which the other party might seize our car as per the contract. Otherwise, there's never gonnabe a possibility for you to lose your car!
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Sally Nachelle
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Subject: Can collectors seize my car
 
 Posted on Wed Jun 01, 2011 7:57 am  
If the court issues a judgments order against you, then your collectors may get the right to seize your car. For more details, you can go through this link:
bills.com/california-collection-laws/
Suzyn
Guest
Subject: tsDnbJOmvLygT
 
 Posted on Wed Jul 06, 2011 12:29 pm  
Frankly I think that's absoultely good stuff.
Margery
Guest
Subject: AjBHtSGzJNXGXfOkR
 
 Posted on Sat Jul 09, 2011 3:21 am  
And I thought I was the sensible one. Thanks for steintg me straight.

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