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Can a credit card company put a lein on my bank accounts

San Jose, CA |

Can a credit card company put a lein on my bank accounts?

If this a joint account?

Attorney Answers 3

  1. Note that I am not licensed to practice in your state.

    They can garnish or attach funds in your bank account if they have a judgment against you and they know the banking information.

  2. If it sues you, and wins, it can attach your bank accounts and garnish your wages.

    Brett Weiss

    The Small Print: This response is for discussion purposes only. It isn't meant to be legal advice and you shouldn't treat it as such. If you want legal advice, speak with a local lawyer familiar with your state's laws who can review *all* of the facts and the law applicable to your situation.

  3. Yes. First, it must sue you for the unpaid balance on your account. If it wins, it can attach any assets you may have. In practice, however, this generally doesn't happen. The issuer will "charge off" your account after it has been delinquent for 180 days. Both before and after charge-off (especially after), the issuer generally will be receptive to an offer to settle your debt for less than the full amount. I'd urge you to negotiate with them; you can usually get a reasonable deal that will be a win-win for both you and the bank. At some point after charge-off, many card issuers will sell your charged-off account to a third-party debt buyer at a small fraction of your unpaid balance. The debt buyer also will be very receptive to setlling your account at less than full value, but you'll often get a better deal (and nicer treatment) from the card issuer.

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