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So Scared Re Judgement


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I have a debt of $6281 with Citibank. A while back I went to a consolidation company and made monthly payments to them for several credit card debts. They failed to reduce the interest on any of them, and they made the payments late, and therefore ended up causing me more debt due to late fees, etc. Some of the credit card co's were saying they weren't receiving payments at all. The consolidation co would not co-operate with me when I asked for specific amounts and dates they'd sent out money. So I stopped sending them money. By this time the credit card co's (esp. Citibank) were hounding me at work daily and I honestly can not give them the amount they are asking for. They called today and said they are placing a judgement to garnish 30% of my wages. I own nothing but am half owner of a car. Can they take the car? Should I take my name off the ownership? They are asking for such huge amounts that I simply don't have to give them, and since I don't they are suing me. I don't know what to do. I am currently in TN but am moving to CA in May. Can they take money from my bank account? I barely have enough to live on as it is. I'm really scared.

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Just wanted to add a couple more things...

The car I co-own was not purchased with the use of credit cards, so can they still take it? Also, how long does it take from the time a collection agency threatens to place judgement until the court date? And since I am moving to another state at the end of May, will the judgement still be effective for wages I earn in my new state or can they only garnish wages in the state where judgement was placed? Somebody please give me some answers soon ... :( Also, even though they threatened to garnish 30% I know they legally can only take 25%. Does that give me any leverage in fighting them? Will they be able to start garnishing within the next month or am I safe since I'm leaving the state?

[Edit by Shyenne on Monday, April 14, 2003 @ 01:37 PM]

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By acknowledgement of the debt, the creditor can go after wages, but probably would have to win a judgment to levy bank accounts, and other assets. The car is probably safe unless bankruptcy is filed, then all assets owned and controlled would have to be listed.

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Fellow Tennessean

IF this CA actually DOES sue you and wins a judgment against you in TN it would to utterly unenforceable in CA UNLESS the judgment creditor first had the judgment 'domesticated' to CA. Some states don't allow the domestication of foreign DEFAULT judgments. So, even though garnishment is possible in CA, they'll have to track you down and go thru a lot more work in order to enforce the judgment. By the time that happens, your likely to be long gone to CA and they, essentially, have to start over to collect.

In either state, if your car is financed, then its probably exempt from judgment in either state. Since your interest in whatever equity in the vehicle is only 50%, then its almost certain to be exempt and they CANNOT touch it. Don't worry, your car is probably quite safe, along with all your personal property as well. They CAN levy bank accounts, but they still have to have a judgment they can enforce IN CA.

[Edit by LadynRed on Tuesday, April 15, 2003 @ 09:05 AM]

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