Wednesday, May 26, 2010

Default on car loan. can they put judgement against you and take any property you have to pay off re

If they take you to court and get a judgment, they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes.



If liens are filed on property that already has a lien on it like most homes and vehicles, they can not take them but if you sell the property they will be paid out of any profits left over after the first lien holder is paid.



Default on car loan. can they put judgement against you and take any property you have to pay off remaining?

Yes, except depending on the state, your homestead may be exempt.



Default on car loan. can they put judgement against you and take any property you have to pay off remaining?

no-not that ive ever heard of

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