Can a credit card company take my boat or any other assets? -My boat loan is up to date -I'm in maine I'm 120 over on cc's they are in collections and i have not been sued. Chuck
You asked this before. This was your Father's boat? I wrote that YES they could but usually they do not want to deal with an old boat.. They FIRST go for your quick assets such as bank accounts, lien on your home, your vehicles.. If you want to make sure you do not lose your boat, put it in another's name. If it is not a large boat that needed to be registered then don't sweat it as they do not have to know you own the boat. If however it has registration numbers and it is under your name, then they may find out about it. FIRST though they need to sue you AND WIN... THEN they need to affirm the judgement, then they would need to execute the judgement... SO... have fun this summer with YOUR boat as nothing is going to happen for at least three months from a law suit start to finish and usually about 9 months. I know how you are worried about losing your boat, as I was in the same *boat* as you ; ) Woofer
