Q: My wife has a capital one card that is going to be charged off. She is afraid they may sue.
She still works. I’m retired. We have a joint bank account. With no wage garnishment here and spousal bank accounts are safe. Would they take her 2016 Ford Explorer that still has a loan of 16000 on it.
A:
Very doubtful. They may sue, and perhaps get a judgment against her, but then they'll try to attach bank accounts in a scattershot manner by sending writs of execution out to the largest banks in your area (hoping that yours is one of them). Even though your joint bank account is untouchable, your bank may initially freeze it anyway (which leaves you cash-less, and checks may bounce). At that point, you'll have to assert that your joint bank account is protected and the bank should un-freeze it.
Will Capital One try to sell your wife's vehicle via Sheriff's sale? I've never seen it happen, and the costs for such a feat usually aren't worth the aggravation or possible payoff for the credit card company.
Best of luck to you both.
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