If a credit card company does a charge off onyour account can they garnish your wages for repayment?
Answer:
They can if they win a judgment against you in court, which you have the opportunity to contest if need be.
It's one more step toward trying to reach a resolution to some sort of repayment plan.
If you offer to pay off a small amount over a period of time, a CC company will almost always take that in lieu of having to spend time and money to try to win a judgment against you and try to recover from your wages.
Plus your willingness to try to fulfill your financial obligation looks better to potential future creditors than does a charge off/garnishment.
Credit card companies can not garnish wages. Credit card debt is an unsecured debt.
A charge off is a tax-related action by the company. It has no effect on what you owe. In most states nowadays, they would have to sue and get a judgment against you, and could then levy against your income or assets.
I have 3 credit cards that are in charge-off status because I didnt pay them for about a year. They never went after my wages. Legally you still have to repay them because its hurting your credit score but they cannot just "take" the money from you. Have you thought of signing up with a debt management company? I went through Family credit counseling corp. www.familycredithelp.org
They contacted all 3 companies and got them to agree to a monthly payment I can handle. Plus once you sign on with FCCC all the collections calls stop and you stop getting charged fees by the credit card companies. Good luck! If you want anymore info about the company. Send me a private message.
NO. Well I don't think so anyway from what I understand it's like they gave up on you repaying so it's like kind of a good thing
Only if they get a civil money judgment against you can your wages be garnished.
Some credit card companies are far more aggressive than others when it comes to sueing people.
Citibank, Discover, MBNA have been very agressive over the past few years.
Go to www.LearnAboutCredit.com
no they cant without a court order
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