Can a collection agency for a credit card co. garnish my wages. I live in Nevada if that makes a difference?/Credit/Finance & Business

04/27/2008Can a collection agency for a credit card co. garnish my wages. I live in Nevada if that makes a difference?

Well you live in Nevada so I don't know the laws there, but from where I live, if the collection agency is not in your state, then you can stop them from calling your work, if that's what they end up doing! Even your boss can get the calls stopped or the owner of the business you work for, all you have to do is request it!

Far as a collection agency, garnishing your wages, No they can't! All they can do is keep coming after for the money owed! But even that has limits after 7 years and not much grounds after 10 years! The credit card company could have garnished your wages if the amount was high enough to be worth taking you to court, and after they went through the whole court system and won there case against you for what you in fact owed! Some credit cards company just charge off the accounts and just take the loss, but it really isn't a loss seeing there profits are in the billions because of there outrageously High interest rates. After a period of time, if the amount charged to the account wasn't a huge sum, most big credit card companies just charge it off as a loss and that's the end of it! but it will always be on your credit reports as a debt charge off, but it will still be damaging to your credit!

If it is just one credit card, and the amount isn't like over 1,000 dollars and you have been doing business with them for a few years, it would be safe to say! The collection agency won't harass you at your work, and don't have real power to garnish your wages! But they will mostly call time and time again weekly and maybe even daily or a few times a day at your home and will send you the monthly debt payment notices! Bu they actually have real strict laws they have to follow too, or they can be sued by people there trying to collect the debts from!

Each state has there own rules and laws about that stuff, but most are almost the same! It can and will get confusing as time goes, when the collection agency actually gives up trying to get the money owed on the acccount, and then turns around and sells your account to a different collection agency for what they can get for it, over the cost they bought it from the credit card company!

But the problem of them selling the acccount, over and over makes they case for the debt that much weaker, if any kind of a court matter would come of it! And the fact of the matter is, once a year goes by of non payment onto the account to the credit card company, the credit card company is actually paid 80% of your debt on the account from there own Insurance! But then they pull a scam and sell your bad debt account to a collection agency for a lot more then what the Insurance company didn't pay on your debt account! The other 20%! But the fact is the credit card companies 90% of the time make a huge profit off the 20% debt! Because there selling the collection agency, the whole total amount plus interest of your orignal debt on the account even though they got paid 80% of it, from there own Insurance! So they lose nothing and make a big profit besides!

So here's a place that might help you understand more of how the whole debt and collection agency actually works:
http://www.ftc.gov/bcp/conline/pubs/aler...
Best Answer:Not directly. No one can garnish your wages until after they win a judgment against you in court and a court order allowing them to garnish your wages. Collectors will lie and tell you that they will start garnishing your wages next week when they have not even sued you. That is actually against the law.
The exceptions to the rule are federal student loan people and possibly the IRS. The federal government can garnish your wages without the whole trial and judgment preliminaries.
Answer:They need a judgment and then they can garnish the wages. Some collection agencies are run by lawyers. The credit card company can use those for legal collections.
Answer:they would have to take you to court first and most likely not even then but it all depends on how much you owe...
Answer:IRS is the only one that can garnish your wages without having a court order.
Answer:only if you sign the paper the old saying is you cant get blood out of a ont sign all they will do is bug you
Answer:Sure. If they get a judgement against you.

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