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please help me

Date: Thu, 07/01/2010 - 08:29

Submitted by anonymous
on Thu, 07/01/2010 - 08:29

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Total Replies: 7


i live in florida im being threatened by ace cash express say ing there going to presue it im scared of loseing everything please help?? any thing


Quote:

Originally Posted by OVLG Attorney
You cannot go to prison for debt, nor will you lose everything. A creditor can garnish part of your wages, but not after a hearing in court. They can also put a lien on your assets like your home or your car, but again, not without a court order.


a pdl cannot put a lien on someone's house,or car.stop acting like pdl's are just another creditor.they are not.


lrhall41

Submitted by paulmergel on Thu, 07/01/2010 - 11:24

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Actually, Paul, OVGL is correct. if a pdl successfully sues and wins a judgement, they would have the ability to collect on assets (lien) as well as garnish wages. The key point here is that they 1)have to sue 2) have to win and then have to collect on the judgement.


lrhall41

Submitted by jj on Thu, 07/01/2010 - 11:30

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Quote:

Originally Posted by jj
Actually, Paul, OVGL is correct. if a pdl successfully sues and wins a judgement, they would have the ability to collect on assets (lien) as well as garnish wages. The key point here is that they 1)have to sue 2) have to win and then have to collect on the judgement.

JJ!! How the heck are ya!!


lrhall41

Submitted by Shazzers on Thu, 07/01/2010 - 11:37

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Quote:

Originally Posted by jj
Actually, Paul, OVGL is correct. if a pdl successfully sues and wins a judgement, they would have the ability to collect on assets (lien) as well as garnish wages. The key point here is that they 1)have to sue 2) have to win and then have to collect on the judgement.


sure i believe the garnishment,but most legit loans are not enough to merit a lien.i thought to get a lien they would either have to

a)have security in the assett
b)the debt had to be of a certain $$$$ amount.i don't think a 500.00 to 1,000.00 debt would get a lien.yes garnishment,but a lien?the reason i dispute the lien is because a friend of mine had a property tax lien put on her house.she contacted a lawyer who said if it wasn't unpaid property taxes there most likely wouldn't have been a lien.the bill was 1,300.00.i just don't believe a pdl even a legit one can get a lien over a garnishment.

btw some states are not only non-garnishment,but are also states that creditors can't put liens on either.TX is one.however bank acounts can be seized.it does depend on the state you are in.


lrhall41

Submitted by paulmergel on Thu, 07/01/2010 - 11:39

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A security agreement is a lien on an asset. Garnishment is where the court essentially puts a lien on your paycheck, or rather a portion of your paycheck since Federal law prohibits a creditor from taking the entire amount of a person's paycheck.
If a creditor has a security interest on an asset, they don't need to bother with garnishment unless there is a deficiency between what the asset sold for and what the loan agreement was for.
Florida is a state that permits a creditor to garnish part of a debtor's wages (I did check on that before I posted). Whether or not there is a requirement for a certain debt amount before the court will grant a judgment lien permitting the creditor to garnish wages depends on Florida's garnishment laws. And I don't know of a state where they specifically bar payday lenders from obtaining a judgment lien, unless the state does not permit payday loans. Most states that I am familiar with that allow garnishment and payday loans don't discriminate against a certain class of creditors like that.


lrhall41

Submitted by OVLG Attorney on Thu, 07/01/2010 - 11:57

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hey to Shazzers. Been good. Life has been keeping me way to busy both on the personal and business side of things... Back to the topic though, this exchange highlights something for me.. and that is that we need to be very careful when making comments regarding liens, judgments and all things legal. There are many complexities and variations situation by situation and state by state. Sometimes we can over simplify to the point of potentially leading people astray... once lawsuits are filed, sound legal advice is always warranted. the lien discussion point highlights that. There are many types of liens, some serve to secure loans, liens to secure payments of judgements (what we are talking about here), mechanics liens securing payment for services/materials, and others. The key to keep in mind about PDL's is that any lien would have to be post judgment, meaning the PDL has to win a lawsuit before they can do anything. Paul I agree that if someone has wages or bank accounts to garnish (if allowed by state law) the pdl or CA will likely choose that route, but.. if for some reason they didn't, there is always the chance of going after an asset. I agree not likely but still possible.


lrhall41

Submitted by jj on Tue, 07/06/2010 - 13:15

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