Legal Question in Credit and Debt Law in California

Re: credit card companies

The credit card company can, after obtaining a judgment, lien your bank account. Once the notice of lien has been sent to the bank, your account is frozen, and unless you follow the instructions on the notice and claim the funds are exempt, they can drain your bank account repeatedly until the entire judgment is satisfied. They have the right to also bring you into court on a judgment debtors' exam in which they will question you under oath about where all of your assets are, what they are worth, and if you have any non-exempt assets with you, the court can order you to turn them over to the credit card company's attorney right away. I'd contact the attorney now and attempt to negotiate a settlement before a lawsuit is filed - which, by the way, will also adversely affect your credit.

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