Timeline for Credit card charge off : Can creditor take away the electrician's toolbox and the car even if the car was paid off a long time ago?
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5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Dec 18, 2021 at 1:04 | vote | accept | Job_September_2020 | ||
| Dec 17, 2021 at 13:16 | comment | added | Pete Becker | And more generally, state laws typically provide that a vehicle (with a limited value) and "tools of the trade" are exempt from execution levies. | |
| Dec 17, 2021 at 12:41 | comment | added | jwh20 | One exception to this might be a security agreement signed by the borrower that lists specific items which are to be used as security. While somewhat uncommon with most credit card agreements, I believe they are used in some cases. | |
| Dec 17, 2021 at 8:28 | comment | added | Job_September_2020 | Thanks for your great answer. From your link, it clearly says that "In Texas, a judgment lien can be attached to real estate only (such as a house or land)." This clearly means that creditors can't put any lien on the car and the electrician's tool box. | |
| Dec 17, 2021 at 8:12 | history | answered | JohnFx♦ | CC BY-SA 4.0 |