What legal action can a credit card company enforce?

The most serious would be a lawsuit against the debtor for the amoun that is owed. If the plaintiff/creditor wins the suit a judgment is entered against the plaintiff for the full amount of the debt. Judgments can be executed in several ways the preferred methods being wage garnishment or bank account levy. Property belonging to the debtor that is not exempted under the laws of the state can be seized and sold for the "fair market value, bonds, stocks, etc. are also subject to liquidation. In addition, in most cases liens can be place against real property owned by the debtor, but forced sale of a primary residence is not usually possible, as it can usually be protected by the state's homestead exemption.