After the Lawsuit What Means Can a Credit Card Company Use to Collect

[52chevy]

My question involves collection proceedings in the State of: Missouri
We have a court date of January 7th with Cap one. We haven't paid on the card in over a year b/c of job loss. Once they have obtained judgement, what means can they use to collect on the debt. I've heard that they can come and pick up stuff from your home, is this true? I'm still in search of work, but barely bringing home enough to pay the basics. I'm a general contractor, can they come take my tools?

[Mr. Knowitall]

They can use garnishment and execution. In theory that could involve seizing and selling your non-exempt assets. In practice it's more likely to involve garnishment of wages (to the extent allowed in your state) or bank accounts.

[Betty3]

These are the post judgment asset exemptions Mo. (assets that cannot be seized)

Homestead: Real property to $15,000. Joint owners may not double.

Pensions and Retirement Benefits: ERISA-qualified plans. Funds exempt for employees of cities with 100,000 or more people, public officers and employees, police officers, highway and transportation employees, firefighters, state employees and teachers. IRA exemptions for conventional, Roth, SEP and SIMPLE plans, but no protection for contributions that are made within three years of bankruptcy filing. Roth IRAs and regular IRAs up to $1,095,000 per person.

Insurance: Death, disability or illness benefits. Life insurance proceeds if owned by a woman who insures her husband, or an unmarried woman who insures her father or brother. Life insurance dividends. Any unmatured life insurance, and up to $5,000 in accrued dividends, interest, or loan value if purchased more than 6 months prior to filing. Fraternal society benefits up to $5,000 if bought more than 6 months prior to bankruptcy action.

Personal Property: Appliances, household goods, clothing, books, crops, animals and musical instruments up to $3,000. Motor vehicle up to $3,000. Jewelry up to $500. Burial plot. Health aids. Wrongful death recoveries for death of person who supported you.

Tools of Trade: Tools and implements up to $3,000 used by the debtor or a dependent.

Miscellaneous: Alimony and child support up to $750 per month. Business partnership property.

Wages: Minimum 75% of earned but unpaid wages (90% for head of family). Wages of servant or common laborer up to $90.

Public Benefits: Social Security. Unemployment compensation. Workers' compensation. Veteran's benefits. AFDC.

Wild Card: $600 in any kind of property. Head of household debtors $1,250, plus $350 per unmarried dependent child under 18.

per US Chamber of Commerce