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Collections Law/Car repossessed in April
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Question
I had a car repossessed in April. Currently on my credit report it is showing as a charge off.
If this were to turn into a judgement would I be notified first? Can they just start garnishing my wages or putting a lien on my bank account with no notice? What rights do I have, if any?
According to Federal rules of civil procedure you must be notified of any civil action filed against you. You have every right to defend yourself against any lawsuit. Most states do not allow pre-judgment attachment of assets and wages, however some states do allow for a frezing of those assets until a judgment is rendered. Not knowing which state you love in it is difficult to say what may happen.
If you receive a summons from the courts make sure you respond timely with your answer or defense. Most credit claims such as this go uncontested and they usually win by default. Dont let this happen to you. At least show up for any hearings and ask for lower interest and costs. If you are in a hardship say so but do not let them get the judgment without a fight.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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