can bank take any asset to pay off debt

My sister had a car reposessed 7 months ago and received a letter from the bank stating that it has been "charged-off" by the bank as a loss and has possibly been taken over by a collection agency if it was "charged-off". My sister has no assets (home, etc) that they could go after to collect on the debt. What are the chances of the bank/collection agency taking legal action if she does not have any assets? She does own another vehicle outright and would the bank consider that as an asset and possibly take the other vehicle as payment? Can they legally do this in PA?

[JETX]

They (the bank) could take legal action to recover any damages that the bank incurred (note balance plus costs of repo, less proceeds from auction sale). However, if they haven't done it by now, they may not do it at all (cost of lawsuit vs. chance of recovery of judgment).

In most states, the collection agency CANNOT sue, since they are not the 'injured party'. Only the original creditor (the bank) has the ability to file a cause of action. And a judgment has to be awarded before any asset seizure can occur. So do not believe ANY collection agency that threatens a lawsuit, asset seizure (garnishment, etc.) or arrest.
Read the FDCPA (http://www.ftc.gov) to see YOUR rights when dealing with collection agents.

Finally, check your local statutes for what is exempt from seizure. Most states allow you to keep a vehicle.

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Steve Halket
Judgment Recovery of Houston
JRS.Houston@excite.com
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This is my PERSONAL OPINION and is not legal advice! Consult your local attorney for your specific situation and laws!