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  1. #1
    Join Date
    Aug 2006
    Posts
    1

    Default Assets, Garnishments and Credit Card Debt in Florida

    My husband and I have worked for the same company for more then 8 years. The company recently went out of business and left us both unemployed.

    We had numerous credit cards and 2 vehicle loans that we can no longer pay.

    We placed our house for sale but it did not sell so we got an investor to take over the payments. He put it in some sort of trust account. He is looking for a buyer but it could take more then a year to get someone qualified to get the house out of our name.

    Because of the time invested at this company we feel that neither of us will find a job making the money we previously were.

    We have decided to move in with family out of state.

    I am planning on dropping the vehciles off at the banks they were financed through but I know the balance on them is much more then what they are worth.

    Without being duly served can they access our bank accounts? put a lien on the house (being under the trust account).

    What exactly can they do? We have another vehicle that is in mine and my 16 year old daughters name. Can they put a lien on it?

    Please Help.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Assets, Garnishments and Credit Card Debt in Florida

    The banks can do whatever they wish within the confines of the law to recover their money, and you should expect that they will sue you over the arrearage and attempt to garnish your income and assets as permitted by the state in which you live.

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