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Can a finance company have my tax return garnished or taken away?

finance
jay27 asked:

10 years ago I defaulted on a car loan, and still owe the finance company $7000, which I’m planning on paying now. Can the finance company take my tax return, or only if I owe FEDERAL AGENCIES?
The case went to court, and I was in another state at the time, so judgment was awarded to the finance company.

This entry was posted on Thursday, March 10th, 2011 at 11:48 pm and is filed under Online Finance Degrees. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

6 Responses to “Can a finance company have my tax return garnished or taken away?”

  1. angela Says:
    March 13th, 2011 at 9:00 pm

    no only if you like back child support back taxes or student loans

  2. Liberal AssKicker Says:
    March 17th, 2011 at 8:25 am

    The IRS can only collect on federal debts and court judgments.

    If the company GETS a court order, then yes.

  3. Max Hoopla Says:
    March 17th, 2011 at 6:53 pm

    IRS will keep your tax return after processing. That is what its job is.

  4. Kristi Says:
    March 20th, 2011 at 2:11 am

    The finance company can’t even collect on the debt anymore if it was 10 years ago. Defaulted loans that go into collections cannot legally be collected after 7 years.

  5. The Says:
    March 22nd, 2011 at 7:07 pm

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  6. Won Says:
    March 24th, 2011 at 10:25 pm

    It is a problem in a matter of law.
    You should turn to your laywer for professional advice.