can they take my car?

[michea]

Hello
I am still waiting to see a BK attorney but can anyone tell me-
I am behind in my Credit Cards (I owe about $5000. ) I have not made a
payment for about 9 months. My car is fully paid for and my business van is fully paid for. this is all I own. I do not own anything else. Do I fear that the CC company can take my cars when I'm not looking? I live in Idaho.
thank you Michea

[michea]

can they take my car (correction to above)

I'm sorry I meant to say I owe $25,000. not $5000 in CC debt

thanks, Michea

[67caprice427]

While legally possible, I think it's called a writ of attachment, I don't think most cc creditors go that route. more common would be a lawsuit with judgement with garnishment of wages. You didn't buy the vehicles with the c/c did you? as long as you didn't, the arguement that some issuers make, about security interest held by possession??? is rendered invalid. the nolo books talked about this in length. good luck.

[Bell30656]

Nobody is going to be towing anything off into the night until after they have received a judgment. So unless you have already been sued and lost or didn't show up, you are fine for now.

[BobMango]

Hello
I am still waiting to see a BK attorney but can anyone tell me-
I am behind in my Credit Cards (I owe about $5000. ) I have not made a
payment for about 9 months. My car is fully paid for and my business van is fully paid for. this is all I own. I do not own anything else. Do I fear that the CC company can take my cars when I'm not looking? I live in Idaho.
thank you Michea

Well since you're in Idaho you can only exempt $5000 on your vehicle, and the wildcard is only $800. Plus in Idaho the Federal exemptions are not available. You may want to think about taking out loans on those vehicles to reduce the amount you need to exempt. Good luck.