What happens if you get sued by the credit card company but you can not pay the debt in Florida and lose the case by judgment?

If the company wins a judgment, which is more than likely. Not having the money to pay a debt is in "legalese" not a valid defense. The creditor has several options, the usual one is to have assets that are easily liquidated and sold by the trustee.

That would be stocks, CD's and in some cases (depending on the type and state statutes) pension funds. A lien can be placed against any real estate and in sometimes a forced sale of a house can be made. They can use garnishment procedings (which is the action they most often take) against wages, bank accounts, tax refunds, etc.The good news is, every state has exemptions that the debtor is entitled to.

When all is said and done the vast majority of lawsuit judgments are uncollectable. The debtor's exemptions protect all the assets. There are other factors that apply, but they are too lengthy to go into here.

The majority of BK attorneys offer free consultation. If you are sued, you definitely need legal counsel. I would strongly advise a person against representing themselves.

Please feel free to email me if you think I can assist you in any manner. Good Luck.

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