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if they have garnished wages can they add interest on amount?IF THEY FREEZE YOUR BANK ACC.do they take all mon?*

what are your right against credit cards from over 5 yrs

Answers:

1) yes I think so, but there isn't enough information here to really answer the question

2) It's hard to tell, but I'm guessing that you're getting some very aggressive threats from debt collectors regarding old credit card debt. Debt collectors have absolutely no legal power to freeze bank accounts or garnish wages....only a court can do that...They would have to follow a process of: serving you court papers to appear in court on a specific date and on that date the other side would have to win a judgement, only THEN can wage garnishment occur....Wage garnishments are subject to lower, fixed interest rates set by each individual state...it's usually much lower than the creditor's interest rate. There is a statute of limitations for credit card debt, which is the amount of time that they can take legal action against you for the debt. This time period varies for each state. You can find this time period for your state by going to the link below and looking under "Open Accounts." http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml If your debt is older than the time period listed for your state, they can no longer defeat you in any court action because the debt is time-barred. This does not mean that they can't try to collect the debt...it just means that they've lost the power to take legal action....all they can do after this point is annoy you...

3) Their is a default interest rate on any judgment. It's different from state to state. The average is around 10% annum.. this site has the rates http://www.lectlaw.com/files/ban02.htm. Check it out Owe and they do have to obtain a court ordered judgment of which gives you 30 days to pay BIF.. after that they can inforce the debt in accordance with your state laws of inforcing a debt which in most states include wage garnishment, attachment on any non exempt assets, freezing bank accounts. TX, FL, Corolina's, Maine, PA are exempt from wage garnishment. Most other states are 10% - 25%. Also, the time limit they have to file a judgment or inforce a debt before you are not responsible is called the statute of limitations, of which again veries state to state.. it's normally 3-10 years. check out this website for that http://www.cardreport.com/laws/statute-of-limitations.html

4) Just to add something to Slimicks answer, yes they can still sue you if the S.O.L. is past they just can't win unless you fail to show up and fight them. Point being if your account is past the S.O.L. if your served court papers you must show up and defend yourself or they will win by default. And yes they can add interest how much depends on your State law and yes they can attach bank accounts and take every cent that's in them as long as the amount is within the owed amount. I have posted a link in the source box so you can look up both your States S.O.L. and garnishment rights and interest amounts.

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