If you have had a car or truck repossessed, it is only a matter of time before you are sued by your creditor to recover the deficiency balance. That is the amount you still owe after the car or truck was sold and the proceeds of the sale applied to your loan. Most people are shocked when they are sued for this balance. If you have credit cards with a balance of over $3,500, it is only a matter of time before you are sued on that account.

If your creditor gets a judgement against you, and they usually have no trouble getting one, the easiest place for them to go collect their money is your paycheck and bank accounts. Your creditors are experts at reaching these assets.