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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am a slave to my debt. I cant pay my credit cards or old

Customer Question

I am a slave to my debt. I can't pay my credit cards or old student loans. I am living solely on my social security which is $1095 and now they will take $99.50 out for Medicare starting this month. What will happen to me if I just stop making my credit card payment? Could my car be taken? It's value is about $6000. I know myu Social Security will be garnished for the student loans. What about the credit cards?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 4 years ago.

Thanks for your question. I am the expert that will be assisting you today.

To help me better provide you with information, please tell me what State you reside in and the amount of equity in your car
Customer: replied 4 years ago.
I live in NC. The value of my car is $6000. It is paid off.
Expert:  Ellen replied 4 years ago.
Thank you for your information.So sorry to hear of this dilemma.

If my answer is not clear to you or does not completely answer your question, please ask me for clarification by using the reply button.

In North Carolina the first $3500 in equity in a vehicle is exempt from the claims of creditors. This basically means that the judgment may be attached against your car that it is unlikely that a creditor will force or be able to force the sale of the car

Social Security may not be garnished for credit card debt

I think this is what you wanted to know. Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

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