a agency call me and said a lien will be put on my property due to no payment on credit card.
2007-03-07 09:45:31 · 4 answers · asked by Lupe 1 in Business & Finance ➔ Credit
What they can do depends on your states homestead exemption laws. Some states do not allow garnishment, liens etc., some do.
They may be able to place a lien, but generally cannot create a foreclosure for a money debt. If it were a signed contract such as with a bank loan, they may be able to create a foreclosure.
They would have to sue you before placing liens etc.
IF you are out of the collecting statute of limitations (SOL) for your state, they cannot legally sue. Also, if you are past the collecting SOL, they cannot legally threaten you by claiming they will sue.
Even if you are past the collecting SOL, that may not keep the collection agency from filing on the time barred debt. Which you would be able to defend plus file counterclaims against them for.
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2007-03-07 10:32:34 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Collection agents will tell you anything, to scare you into paying. A property lien can be easily contested unless agreed to as a condition of the load, for example where the bank has alien on you car that you ued as colateral.
Something else to watch out for is that many of these agencies are crooked. In most states, if you pay anything to the agency on a debt, you acknowledge that their claim against you is legitimate. You need to find an old statement from the card to verify that you actually owe as much as they claim before you make any payment.
2007-03-07 10:33:51 · answer #2 · answered by Niklaus Pfirsig 6 · 0⤊ 0⤋
Were you sued and lost a judgment. if not you need to check statutes of limitation in your state where you live. usually it is about five years. After that you cannot be sued. If there is a judgment it still might not be legal to put a lien on your house
2007-03-07 11:10:29 · answer #3 · answered by rallman@sbcglobal.net 5 · 0⤊ 0⤋
No, they can't put a lien against your property. But they can get a judgement against you in small claims court then garnish your wages if they want.
2007-03-07 09:50:40 · answer #4 · answered by hr4me 7 · 1⤊ 0⤋