When a credit card company sues you for non-payment and you have no assets what can they actually sue for?

In: Credit and Debit Cards

[Edit]

Answer

They can actually sue you to obtain a judgment against you. Under the state's law in which you are sued, judgments can have dire financial consequences which extend far into the future. These include wage garnishment, bank account seizure, damage to your credit and the possibility of the judgment being renewed.

You may be "judgement proof" at this time, but a judgment that can be renewed indefinitely imperils you financially for the rest of your life.

First answer by The Credit Lady. Last edit by The Credit Lady. Question popularity: 38 [recommend question]

Also see on Answers.com

Credit card (in finance)
sue

Research your answer:

Can you answer other questions about Credit and Debit Cards?

Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Credit > Credit and Debit Cards > When a credit card company sues you for non-payment and you have no assets what can they actually sue for?

Our contributors said this page should be displayed for the questions below. (Where do these come from

)

If any of these are not a genuine rephrasing of the question, please help out and edit these alternates.

Can you sue someone with no assets? Can a credit card sue for non payment? What happens when a credit card company sues? Can a credit card company sue you for payment? If a credit card company sues what can they get? Can a credit card company sue you if they refused a payment? What happens when a credit card company sues for debt payment? When a credit card company tries to freeze your assets but you have non? If you owe credit card debt and the credit card company sues you what can they do to your assets?