Bob owes an unsecured debt of $10,000 to a credit card company.Bob stops making payments.The credit card company gets a judgment against him for $10,000.Bob owns a personal watercraft worth $4,000,he earns $500 per week at his job,and he has a savings account at a local bank with a balance of $2,000.Discuss the concepts of attachment,execution,and garnishment,what steps the credit card company could take to get its money,and any protections Bob has under the Consumer Credit Protection Act.

Question

Quizplus · Accepted Answer

The Answer of Bob owes an unsecured debt of $10,000 to a credit card company.Bob stops making payments.The credit card company gets a judgment against him for $10,000.Bob owns a personal watercraft worth $4,000,he earns $500 per week at his job,and he has a savings account at a local bank with a balance of $2,000.Discuss the concepts of attachment,execution,and garnishment,what steps the credit card company could take to get its money,and any protections Bob has under the Consumer Credit Protection Act.

Bob Owes an Unsecured Debt of $10,000 to a Credit