Can collection agency threaten to take your home??
Date: Fri, 05/11/2007 - 09:07
They may be able to lien it,but it is doubtful they could take i
They may be able to lien it,but it is doubtful they could take it since it was not pledged as security for transaction.
When a vehicle is resposssed it is resold. You are responsible t
When a vehicle is resposssed it is resold. You are responsible to pay for whatever the resale didn't cover. They can not threaten you with an action unless they intend to follow through with it.
Op asked about losing home. I replied it may be liened if the cr
Op asked about losing home. I replied it may be liened if the creditor gets a deficientcy judgement after selling vehicle. Home cannot be taken if it was not the original security in the transaction.
State law would determine the answer. In TX: No, they cannot l
State law would determine the answer. In TX: No, they cannot lien up or take your home for the deficiency amount on a vehicle loan where the vehicle was the only collateral.
