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If a debt collection agency sues me can they take my car that is paid off? | Collection Agency Media | News
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3 Responses to “If a Debt Collection Agency Sues Me Can They Take My Car That Is Paid Off?”

  1. I Love Richard KHC
    October 5, 2010 at 10:50 am #

    No they can't touch your car. The only way you would loose your car is if you filed for bankruptcy, but even then they let you keep one car because it is needed to create an icome and live. So their really is no way you could loose your car. The only thing a debt collection agency can do is sue for their money and garnish your wages if they win. I have never seen them go this far unless it is a really large amount of money.

  2. CatDad
    October 5, 2010 at 11:19 am #

    Creditors cannot confiscate your personal property...even if they take you to court and win a judgment.
    If they take you to court and win a judgment, the following can happen:
    - garnishment of your wages...which can range from 10 - 25%, depending on what state you live in. (Wages cannot be garnished for credit card debt in these states: PA, TX, NC, SC & FL (head of household). Roughly the first $800 in wages per month is exempt from garnishment.
    - freezing of your checking accounts.
    - If the debt is huge, then they may try to place a lien on your house if you own one. A lien is only good if you sell your home voluntarily. They cannot force you to sell your house against your will.

  3. bdancer222
    October 5, 2010 at 11:31 am #

    If they sue and win a judgment, they can garnish wages, attach bank accounts and lien personal property. They are more likely to go for the wages and bank account. They want cash not stuff.

    If the debt is big enough they might put a lien on your house, but they can't force foreclosure. The lien would have to be settled before you could sell or refinance.

    They could also put a lien on your car but unless the car is worth a whole lot of money, that's not likely.

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