Can credit card companies seize your car?

If you have a personal vehicle, a debt collector can legally take your car, sell it, and use the money to settle the debt. There’s one crucial thing to keep in mind. If your debt is related to a property like a piece of land or defaulted on a car loan, these possessions can be repossessed to settle the debts.

Can a debt collector take my wife’s car?

“Legally, a creditor with a judgment could reach the share of a co-owned asset that its debtor owns. If there is a loan attached to the car, there has to be enough value in the car to pay off the debt from your share of the car before a creditor could have the sheriff tow the car and sell it.

Can a credit card company take Your Car?

Credit card debt, unlike mortgage debt, is unsecured debt. This means your credit card company can’t come immediately take your stuff — including your home or car — when you don’t pay.

Can a credit card creditor put a lien on my vehicle?

I owe two thousand dollars from a credit card I had about 6-7 years ago. A collection agency called me and said they were going to serve me a summons at work and possibly put a lien on my vehicle if I don’t pay. They offered to settle for one thousand. I don’t own my vehicle. Can they do that? Ask a lawyer – it’s free! I am licensed in Texas.

Can a payday loan company seize your car?

If they registered a lien on the car, then they have a right to seize the car if you default on your payments. If you have an unsecured loan however, like a payday loan or credit card loan, is your car safe from seizure and sale to recover the debt?

Can you pay for a rental car with someone else’s credit card?

The renter cannot provide a credit or debit card belonging to someone else for their use. If you wish to pay for the rental car, but have someone else drive it, you can rent the vehicle in your name and add them as an additional driver.