Posted on: 14th Sep, 2010 11:07 pm
what are the remedies for a summary judgment of a collection agency on a second mortgage in the state of florida. the principal has been modified. the collection agency has sued me in court and are now requesting a summary judgment. can they take my 401k plan?
Hi guest,
Welcome to mortgagefit,
If collection agency has obtained a summary judgment against you in the court then there are hardly any chances left for the material issues of fact to be verified.
there are more chances that you may loose the case in court and may have to pay the deficient amount to the CA.
As far as garnishment of 401K is concerned, as far as I know, 401K can not be garnished for any secured/unsecured debt.Highest punishment possible in these types of cases is imprisonment (if proved).
Feel free to ask any further query.
DIPA
Welcome to mortgagefit,
If collection agency has obtained a summary judgment against you in the court then there are hardly any chances left for the material issues of fact to be verified.
there are more chances that you may loose the case in court and may have to pay the deficient amount to the CA.
As far as garnishment of 401K is concerned, as far as I know, 401K can not be garnished for any secured/unsecured debt.Highest punishment possible in these types of cases is imprisonment (if proved).
Feel free to ask any further query.
DIPA