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In Texas, can a credit card company seize a car for a delinquent debt? What judgment could result in seizure?
card company has compounded fees until the payment--which has tripled, even though it's been on time--actually results in an increasing balance.
I honor my debts, but this has broken me financially. Can they seize my car. I have other bills and pay them. If the company had been ethical in its fee-structure, I would gladly have paid them until the balance was zero.
4 Answers
- 1 decade ago
Often times if you tell the credit card, or any debtor, your situation, they will work with you or even give you a reduced payoff figure. Also, as long as you are making the minimum payment, they can't do anything. Don't just stop paying them.
- 1 decade ago
If the car was collateral for the credit card, they can seize it. They CANNOT, however, repossess assets they didn't help finance. They CAN garnish your wages.
- Anonymous1 decade ago
They can only take your car if you used it as security to get the card, otherwise they can't touch it.
