IfI walk away from mobile home, can a out of state creditor win a judgement and garnish my wages and freeze my bank accounts?

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IfI walk away from mobile home, can a out of state creditor win a judgement and garnish my wages and freeze my bank accounts?

Asked on November 17, 2011 under Bankruptcy Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you owe money on a loan secured by your mobile home and you walk away from it, the lender can foreclose upon it for a set amount of a bid and then sue you for any deficiency between what the loan amount is and what the bid was on the mobile home.

The lender who does business out of state would have to file suit in the county and state where you reside ordinarily. Assuming there is a judgment against you, the creditor can levy upon your bank accounts and garnish your wages. Perhaps you might wish to consult with an attorney that represents people in debt collection matters for further advice?


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