Debt Collections Credit Card

[susanlbs]

What is the name of your state? ca

Can a credit car company force you to sell your car (paid off) to pay for the debt you owe them? What is the husband's liability?

 

[Ladynred]

No, they cannot force you to sell your car, but if they sue you, they can sieze it and THEY can then sell it to satisfy the debt. Depending on the value of the vehicle, if its more than the allowed exemptions, they could get their mitts on it.

As for the husband - was the debt incurred while you were married ?? CA is a community property state - if you incurred the debt while marred, they can go after the husband. Community property = share and share alike both assets AND debts !!

 

[susanlbs]

thanks for taking the time to answer. i don't know what the allowed exemtion is for the car, but was glad my husband and i lived together 14 years before getting married. debt was incurred before we "made it legal" 3 years ago! i guess i better give the car away to my son! thanks!!

 

[Ladynred]

If there IS a lawsuit in the works, giving the car away would be viewed as a fraudulent conveyance and an attempt to hide assets and the court could reverse the whole thing and still take the car.

Exemption for the car will be either $2775 or $2300. You need to find out what the trade-in value is.