Can credit companies place leins on your personal property if you fail to pay unsecured debt?
Answers: If they take you to court and get a judgment then they can not only file liens on your property, they can also attach bank accounts and garnish your wages (if your State allows it).
Very simply put, the answer is a big NO! Unsecured debt is just that, unsecured, and that you have nothing of yours to back up the debt. Think about it, when you received your credit card, there was nothing stating that you have secured your debt with any personal property. You received that card free and clear without any obligations to your personal property. So, there are no liens whatsoever the company can put on your property.
One word of caution about credit collectors, never, ever allow them to use scare tactics against you-it's against the law!
Hang in there, you will be back on your feet some day very soon, in the meantime, do the best you can with what you have! Good luck to you!
Only if they sue you in court for the unpaid debt, get a money judgement amount, FIND your property, get a WRIT of possession from the court, find a sheriff to go with them to claim the property, and then actually put their hands on the property and seize it.
If the court says you owe 1250 bucks and issues a writ and they find out you have a bank account somewhere, they can take the sheriff to that bank WITH that writ, and IF there is at least 1250 bucks or more IN the account, they can seize up to 1250 bucks. Neat trick huh? PAY your bills.
If I start up a business can I use my EIN to catch a business credit card?
Or will they check my credit, and does it have to be outstanding?Answers: Congratulations on the first step surrounded by moving away from personal credit that requires your social security number.
The best business credit does not!
Startup a LLC or corporation,
capture an EIN then a DUNS #
and later five or more companies
that report credit and you'll be in the big league!
Good luck, it takes restraint, hard work and familiarity you won't find at Yahoo...
If you don't have any business credit to dance off of later yes. Do you have a DUNS #?
What steps should I whip to develop my credit win?
i have be late twice on both of my credit cards for olden times 6 months (ive only have them for this long). another bad entity is that they are both right on their limit and other have be since the 2nd month. NOW for the big question...would it relieve me out if I can just pay packet it off? I own the money to pay at least possible one of them off but would this really be a apposite move?Answers: the only passageway to improve your credit ranking is to start paying on time. those belated payments will be on your credit score for 12 months at smallest. It doesnt matter whether your cards are maxed out, they resembling that, it means that they bring in money off you through interest. Pay some rotten both cards, and then stick to your monthly payments and ensure they are on the dot, set up a Direct Debit if you need to.
compensate your bills on time is the king! and you may also want to save your balance at your credit cards below 30% of your total credit mark out to boost your score