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Jim
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Subject: garnishment
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Sun Mar 15, 2009 11:56 pm
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| I heard a rumor that President Obama is considering recalling the "Debtor's Prison Initiative" law dating back to the Civil War that puts people in the penitentiary for non-payment of debts. I heard that for every $1,000 in debt owed, a person might have to spend 1 year in federal prison; so that if you owed $4,000, you would have to spend 4 years in jail. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Mon Mar 16, 2009 1:30 am
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| WHAT????!!!! Where did you hear THIS from? THIS would mean a WHOLE lot of people would go to prison. Good grief. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Mon Mar 16, 2009 1:32 am
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| You really can't attempt to pay your bills while you're in Prison, can you??!! |
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nelda tooke
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Subject: credit card lien on property
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Mon Mar 16, 2009 9:54 pm
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| I have large credit card debt and only social security income. i know it cannot be garnished, but if i am sued will i have to pay a lien on my property or is this lien also exempt from payment? i own my home but have a small mortgagee which i am paying. |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Tue Mar 17, 2009 5:24 am
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Hi Nelda
Yes, the creditor can put a lien on your property if they cannot recover the debt. However, they can bring judgment against you to garnish your bank account so that whenever any money comes into your account, it will get debited by the bank and deposited with the creditor. So you should inform the bank that the money that gets credited into your account is your ss benefit.
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Keep in touch
Carol |
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Helen Anderson
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Subject: dgment Scare
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Wed Mar 18, 2009 3:37 am
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| I have not been able to pay Discover Card, but I have written them about this and told them I did want to pay them what I could. Now they are threatening me with legal action, an attorney, and a judgment against me. I have no house, no car, and no assets and live on Social Security and small pension. What can they do? |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Wed Mar 18, 2009 8:37 am
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If you live on social security, you need not fear about judgment because social security benefits can never be garnished for credit card debts. All that they can do is to garnish your bank account or your wage. Now, since you do not have a job, they cannot garnish your wage.
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Where there's a will, there's a way !! |
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Rathel
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Subject: Federal Retiree
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Mon Mar 23, 2009 2:57 pm
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| The phone calls have just stated. I am three months behind in making my credit card payments. Is it too soon to file for bankruptcy? |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Tue Mar 24, 2009 7:08 am
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Can you tell me how much is your credit card debt and does your income permit payment the payment of the outstanding debt?
You can file bankruptcy, but it will hamper your credit score. Now, generally a creditor charges off an account if you have not made a single payment for a period of three months or more. You should immediately contact your creditor and pay off the outstanding debt through a repayment plan if you can afford to do so.
_________________
Keep in touch
Carol |
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Will
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Subject: Judgment in MD
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Mon Mar 30, 2009 2:33 pm
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| My wife & I recently had a Chap 13 in which we surrendered one of our vehicles because it was too expensive. The loan company sold it & then tried to submit the balance to the trustee's office. The trustee basically told them to screw you, you should have sold it for more money. We later asked that our Chap 13 case be demissed. The loan co is now suing us in court to obtain a judgment. I was retired on a disability in 1999, and my wife retired this year. I get SS and a retirement check. My wife only gets retirement. Can the loan company garnish these? Thanks! |
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debbbie
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Subject: lost my home in forclosure, can 2nd mortgage get judgement
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Mon Mar 30, 2009 2:34 pm
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I lost my home in forclosure, I am unable to continue to pay on 2nd mortgage. My only source of income is RR retirement and small pension.
Can they attach my retirment and pension |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Tue Mar 31, 2009 9:10 am
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No, social security payments cannot be garnished for mortgage repayments. All that they can do is to foreclose your home and sell it off to recover the debt. Social security can only be garnished to recover outstanding federal taxes and alimony and child support obligations.
_________________
Keep in touch
Carol |
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Mae
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Subject: Comission Income Garnish
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Wed Apr 01, 2009 5:30 am
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I am a real estate broker with medical bills forcing maxing credit cards. No
commission in past 12 months. Credit cards going to collectors and attorneys.
I just started collecting Social Security - three months worth.
What can they attach? House in foreclosure and selling assets. |
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Guest
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Subject: garnishment
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Mon Apr 06, 2009 8:04 pm
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| I live on naval, postal, and social security only. can credit card companies attach my retirement |
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Richard
Moderator
Joined: 27 Jun 2006
Richard's page
Posts: 126
5047 Magic Points
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Wed Apr 08, 2009 11:59 am
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| No, social security benefit cannot be garnished for the recovery of the credit card debt. It can only be garnished for recovery of outstanding Federal Tax debt and alimony and child support obligations. |
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