Legal Question in Credit and Debt Law in Arizona

Credit Card Default

We have substantial credit card debt that we are unable to pay. We own our home with no mortgage. We will both be on Social Security this summer. We do have some investments that have taken a 65% loss in the past year. What can the credit card companies do to us if we default?

Asked on 3/14/09, 3:54 pm

1 Answer from Attorneys

Brian Blum Blum Law Office, PLC
0 users found helpful
0 attorneys agreed

Re: Credit Card Default

They can sue you, win a judgment, and garnish your bank accounts and investment accounts, and garnish your wages if you have any. If you own "non-exempt" property, they can have the sheriff take the property and sell it.

Read more
Answered on 3/14/09, 5:16 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Arizona

Looking for something else?

Get Free Legal Advice

88683 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now