The state I reside in is Non wage garnishement so and I don't own a house , just lease a car, so what else can the CA do if I stop paying them?
1 Answer from Attorneys
Pennsylvania does not have wage garnishment for most debts except taxes, alimony/child support, back rent owed to a landlord and maybe a few other things.
If you owe money to a creditor, the creditor can sue you and get a judgment. Judgments are renewable; they can be renewed after 5 years for land and are good for 20 years on personal property.
Personal property includes a bank account or car.
Judgments will be reported on your credit report for 7 years after the date of entry. They earn interest at a rate of 6% per year.
With an unpaid judgment, you will never be able to have a car or house in your own name as you will not be able to get financing for a mortgage. You may be able to buy a car but you are not going to get a favorable interest rate.
With an unpaid judgment, you will not be able to keep more than $300 in the bank; otherwise, the creditor will grab it and place a hold on your account.
What you do depends though on who the creditor is and how long it has been since you last paid on the account. If its with a collection agency, that just means that its over 90 days delinquent. The creditor or a junk debt buyer has 4 years from the date of your last payment on the account to sue you.
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Mother is being sued for Credit Card bill about $900. She is a senior citizen .... Asked 9/20/13, 11:10 am in United States Pennsylvania Consumer Law