Can credit card companies garnish your wages or take away your house?
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Answer

Yes they can, but there are so many factors that must be in order before they can do that. For example, they must consider the balance of the account, if your bank account is a joint account, the laws of the state which you live, etc. They have procedures to follow. It does happen, but as a general rule, they try to stay away from that because it costs them money for lawyers, etc.

Answer

If you do not pay your credit card balance, the credit card company would first have to sue you and get a money judgment. Laws on collecting judgments vary from state to state, but most states would allow some type of wage garnishment. Once entered, state law would determine the amount of interest that accrues on the judgment.



It is highly unlikely they will ever even come after you. Unless you owe quite a considerable amount they will just write it off and sell the debt for pennies to a collection agency. They too will unlikely ever sue you because of the cost it takes to go to court.

http://creditcardwarehouseonline.com

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