Expert: Apex Credit Services, LLC - 12/15/2007

Question
i live in new jersey. are they allowed to take money out of my check. i also own a home, can they take that . they mentioned something about assets i have.

Answer
Dear Sir or Madam:

    Yes, in most jurisdictions, creditors are permitted to garnish wages.  While they cannot "take" a home (unless it is the mortgage holder and a repossession ensues), creditors can place liens against title which renders it largely unmarketable until such encumbrances are satisfied and subsequently thereafter, released.  Moreover, it is common for debt collectors and judgment creditors to assess a debtors assets in hopes of either: 1) evaluating whether to collect initially; or, 2) how to collect post-judgment.

    That being said, a creditor must obtain a judgment before doing any of the above.  Their are few exceptions that apply such as in the case of child support and financial aid lenders.

    Please be advised however, that you would need to consult a licensed attorney in your jurisdiction in order to ascertain what the laws in New Jersey are and how they are applied.  While, the general rules provided herein are sound, they are just that . . . general.

     Apex Credit Services, LLC