if you dont pay unsecured credit card debt can they take your assets?
If you do not pay on your Unsecured Credit Cards can they take away any of your assets? If you are talking about an unpaid credit card debt, the answer is generally no for small balances (maybe $2000 or less, all depends on the company). What will happen is they will charge-off the account, you will be harassed by collections, and you will have a nasty credit record for the next 7 years. True, for larger amounts, they will place a judgment against you that may need to be satisfied if you buy or refinance a house. As a mortgage underwriter, I rarely saw garnishments for small credit card collections. Child support or tax liens were much more frequent. Also, “assets” is rather vague. If you …
The rest is here:
if you dont pay unsecured credit card debt can they take your assets?
Related posts
