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legalgems
legalgems, Lawyer
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A credit card is considered an unsecured loan; in the event

Customer Question

a credit card is considered an unsecured loan; in the event of a write off can a civil suit ensue and if i was not a participant in the loan even though we are married can joint property have a lien placed againsg it
Submitted: 5 months ago.
Category: Legal
Expert:  legalgems replied 5 months ago.

Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

Expert:  legalgems replied 5 months ago.

What state is this in regards ***** *****?

Customer: replied 5 months ago.
nj
Expert:  legalgems replied 5 months ago.

Thank you;

unfortunately a write off does not bar a lender from pursuing collections; a write off involves the lender deeming, for accounting purposes, that the debt is considered uncollectable; but it does not render it moot. In contrast, a discharge in bankruptcy renders the debt void.

An affirmative defense to a credit card debt is the statute of limitations- once the statute of limitations time frame has expired, the court would dismiss any litigation, with prejudice, unless the debtor reaffirmed the loan.

The statute of limitations 2A:14-1 for credit card debt is 6 years.

If the bank account has money in it that belongs to one's spouse, then the consumer can challenge the levy and the Motion for Turnover of Funds.

Here is information on the types of bankruptcy:

http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics

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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

Expert:  legalgems replied 5 months ago.

Hello again; just checking in to see how things worked out;
if you have further questions please don't hesitate to reach out to me here on Just Answer.
Thanks!