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TOPIC: credit card garnishment

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#5887

sbaco (User)

Senior Boarder

Posts: 53

credit card garnishment 2 Years, 1 Month ago	Karma: 0
Do credit card companies sue or garnish wages? I have never heard of them doing that. I thought because they are unsecured, that the lend at their own risk.

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#5899

Lex (User)

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Posts: 112

Re:credit card garnishment 2 Years, 1 Month ago	Karma: 0
You are right. Credit card debt is unsecured debt. However, an unsecured creditor can obtain a judgement against a debtor and even get a writ of garnishment. However, credit card companies usually try to recover liquid assets and if the debtor is insolvent, then they move on. Its not very common to see a credit card company actually garnish a debtor, but its possible.

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