I owe capital one money on a repossessed vehicle ( i owe the balance remaining After it was sold at auction) they have a court judgment against me. i was sent paperwork asking for all my bank account info and any vehicles i currently own. I own a vehicle free and clear that i paid cash for. Can they take that vehicle from me?
Originally posted 2009-04-05 10:29:47.
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Yes they can…
Will they is a different story…
They could depending on how old and type of vehicle it is but, they probably won’t take the vehicle, but a judgment against you is extremely bad for your credit. It will prevent you from buying anything else that you would typically need a loan for until the judgment is satisfied. Once a judgment has been placed against you , you can’t have it removed even if you do a bankruptcy. You could probably offer them less money and they may accept. As for your bank accounts if you show that you have the funds they can try to have them seized.
Yes they can, will they? Maybe, depends what you owe and what it’s worth. You owe them, they can take everything you own if that’s what it takes to pay back the amount you’re short.
Not necessarily. They can only take certain items like your computer or extra TVs or extra vehicles as long as you don’t need them for work. They can also take musical instruments if you are not a musician. If this is the only vehicle you own they can not take it from you. As far as wanting your bank account numbers I’d be leary about sending any of that information unless it was ordered by the court. In that case I’d close those accounts and stop any direct deposit you have. Also, have you tried to contact them to set up some kind of payment arrangement? Maybe they will be more willing to help you now that they have sold the vehicle.