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Can a credit card company take your car because you do not have the money to pay them due to your health? |
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Creditors cannot 'take" anything from a debtor without due process of law.debt.You can do a web search for the bankruptcy laws of your state. That will give you a list of exemptable assets. Cars usually cannot be seized by creditors. Except of course, the financial institution that holds the car loan .If your car is paid for, it may still be covered by a set exemption amount. Creditors prefer to garnish wages and bank accounts. Seizing real property is a costly and lengthy process. It seldom results in enough profit to be worth taking action.
First answer by Nikki. Last edit by Nikki. Question popularity: 35 [recommend question]
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