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Can collectors seize my car

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Brody
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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
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Posts: 2632



48565 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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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

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1916 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
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Posts: 9



211 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.
crorkz matz
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LeAnn
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Subject: Car seized for past credit card debt
 
Posted on Mon Nov 02, 2015 3:15 pm  

If you have back credit card debt and have defaulted, and you own a car (no lien) it CAN be seized and auctioned to satisfy all or part of that debt. (Michigan) Anything in a bank account (not SSI or SSDI) can be taken. Boats, motorcycles, snowmobiles ........ anything you own outright that can be sold to get their money CAN be taken. BE sure of it !!!
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