I live in Georgia..can a credit card company put a lien on my home?

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I live in Georgia..can a credit card company put a lien on my home?

2006-06-06 01:22:03 · 2 answers · asked by Linda K 1 in Business & Finance ➔ Credit

2 answers

IF THE ACCOUNT IS LARGE ENOUGH THEY CAN SUE YOU AND OBTAIN A JUDGMENT.

THEY WILL THEN TRANSCRIBE THE JUDGMENT IN TO A "JUDGMENT LIEN" AND IT WILL CLOUD THE TITLE OF ANY REAL PROPERTY YOU OWN IN THE COUNTY THE SUIT WAS FILED IN.

THEN, IF THE JUDGMENT IS LARGE ENOUGH, SAY OVER $10,000 TO $15,000 THEY CAN FORCE A FORECLOSURE ON YOU AND HAVE YOU EVICTED FROM YOUR HOME AND SELL IT TO PAY OFF YOUR DEBT.

THEY DON'T SCREW AROUND.

2006-06-07 12:20:59 · answer #1 · answered by icsowesmemoney 3 · 1⤊ 0⤋

only after a judgement in court!

2006-06-06 03:20:41 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋