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A creditor can sue for a debt, whether or not someone's home can be seized and sold to repay that debt depends on several factors. In the majority of cases the state homestead exemption will protect a person's home from forced sale by creditors. Several states have laws forbidding forced sale of a primary residence, or unlimited exemption amounts which bear the same results. Creditor's prefer to use wage garnishment, bank account levies, or the liquidation of other nonexempt assets belonging to the debtor; rather than the complicated and costly seizure and sale of real estate. Generally when a judgment is used against real property it is in the form of a lien, which is also subject to state statutes on how it can be executed.
Wiki User
∙ 8y ago
Wiki User
∙ 11y agoYes. It happened to my neighbor and they couldn't sell until the debt was settled.
True, but this would only happen if the credit card company first sued to collect the debt and was successful in obtaining a judgment.
Wiki User
∙ 18y agoIt depends on what they did. You would need to talk to a lawyer. * Absolutely. It takes a lot of research, stamina and just plain guts but it is a given in the world of litigation that the debtor can always find a casus belli which can be used as the basis of a suit against the creditor. For example, the arbitrary charging of "late fees", antitrust violations, fraud, and so forth. The three words that will strike fear in the hearts (if they had any) of all major creditors are "class action suit".
Wiki User
∙ 12y agoYes, if they are awarded a valid judgment against the debtor the judgment can be executed as a lien against real property owned by the debtor.
Liens are extremely damaging to one's credit and finances. The encumbered property cannot be sold, refinanced or transferred ownership until the debt is paid or the lien holder(s) agree to the action. Liens can continue to accrued interest until they are paid and most liens can be renewed some for as long as 20 years.
Wiki User
∙ 13y agoLawyers do not have the authority to place liens on property. The creditor would need to sue you in court and win a judgment. It could then request a judgment lien that could be recorded in the land records. You could not sell or mortgage your property until the lien is paid off. The amount would continue to grow since the judgment creditor is entitled to interest and costs.
Wiki User
∙ 13y agoYes. It could seek a civil judgment in court and if successful obtain a judgment lien that could be recorded in the land records. Their legal costs and interest will be added and the amount due will escalate. You cannot sell or mortgage the property until the lien is paid off.
Wiki User
∙ 17y agoYes, contrary to what some believe a consumer can be sued for unsecured debt (credit cards, promissory notes, pay day loans,etc.)
Wiki User
∙ 15y agoIf you are being sued by a credit card company can they take your house?
Wiki User
∙ 11y agoYES!
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Can a credit card company lien be removed if you don't pay?
The only way to remove an active lien is to pay it off. You cannot sell or mortgage your home until the lien is paid.
If a credit card company has a judgment on you in Tennessee can they take your home if you own it?
no,,,,,,but they can put a lien on it,,,and when you sell your house,,it has to pay the lien amount,,,before you get any money from the house.
I own a home and my mother resides in another home on the property her debt is showing as lien against the property but she doesn't have the house in her namecan a credit card company do that?
If it is credit card debt, the lien is invalid, but if you or your mother ignored a complaint about the debt and failed to object to the lien, you may have to do something about it in the court that granted the lien. If you live in a state where a credit card lien can be obtained without a court order, you will have to take some other legal action. If you fail to have the lien removed, it will come back to haunt you if you want to refinance or sell the property, or if you die.
Can a person with just lifetime rights on a deed be sued by a credit card company?
I mean is can the house have a lien put on it by the credit card co.?
In SC can a Credit Card Collector place in lien on your house?
CAN CREDIT CARD COMPANIES OR THE AGENCIES THEY SELL YOUR DELIQUENT ACCOUNT TO PUT A LIEN ON YOUR HOME IN SOUTH CAROLINA AND IF SO WHAT ARE THE RULES ?
FDCPA in Florida protect home from credit card collection agency?
How much can a credit card collector do with a lien on your property in Fl
Can a credit card company take away or place a lien on your Florida home if you stop paying the 12K credit card balance and you are not a US citizen and live and work outside the country?
no a credit card company may not take your home away. a creditor can never take anything away if the debt is unsecured such as a credit card. regardless of what anyone posts here, credit card companies cant do anything whatsoever if you stop paying them. your credit is ruined and they call alot, but that's all they can do.
Can a credit card company file a judgment lien against your house if there is no equity in the property?
Yes.
Can a credit card company or collection agency put a lien on your home before first taking you to court or can they get a judgment against you with out you knowing about it first?
No. Court is a must
Can a credit card company put a lien on your house in North Carolina?
Yes, a credit card company can put a lien on your bank account or your house in North Carolina. They would have to go to court and obtain a judgment and will probably not do this unless you owe a large amount.
Does a credit card property lien expire?
Unfortunately, some states do allow for this to occur. The credit card company usually renews the lien and adds the cost of the renewal to the lien. It is better to pay off any bad debt you have obtained before this situation.
Can a credit card company put a lien on a house that you own with another person or by yourself to try to collect their money?
It depends. Some credit cards come to you as equity loans (you activate the card, it gives you a limit on the card equal to the equity on your house) and if you don't pay off the loan, the house belongs to the company. If it is a regular credit card and you don't pay, they may take you to court and win a judgment against you. That would allow them to put a lien on the house in the amount of the judgement. So, to answer your question, yes, there are ways that a credit card company can put a lien on your house.
