im making payment on my car and my house! will they come and take my house or my car away?
2007-04-11 21:34:45 · 4 answers · asked by tn_ng79 1 in Business & Finance ➔ Credit
Maybe you can transfer your Sears balance to a 0% APR credit card. This way, you can avoid interest charges for up to 12 months. You'll still have a monthly minimum, but it should be lower with out interest tacked on.
You can find a complete list of 0% APR credit cards here:
http://www.asapcreditcard.com/0-apr.html
Hope this helps. GOOD LUCK!
2007-04-12 03:26:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Without knowing your state statutes -
A credit card debt is an unsecured debt. While they may be able to sue you (if it comes to that) they generally cannot take secured property for unsecured debts. All they would be able to do is place a lien on the property. If you sell the property while it is still under a judgment lien, then they would get paid from the procedes of the sale - if there is any.
Some states allow wage garnishment, some don't.
To know where you stand, you should really research your states exemption statutes.
If you are having problems paying, you might call the card company and explain the situation and see if they will work with you, by reducing the interest, etc.
If Sears won't work with you, I agree with the poster that mentioned getting a credit card that has a 0% 12 month promo. You would probably have to pay a balance transfer fee, so read everything thoroughly first. But you may be able to work at getting the balance down.
2007-04-12 16:22:11 · answer #2 · answered by echo 7 · 0⤊ 1⤋
Your Sears account has nothing to do with your car or house. All you'll get is frequent collections agents calls, and a really poor credit score. You may even get taken to court and ordered to pay.
2007-04-12 04:38:57 · answer #3 · answered by charmedchiclet 5 · 1⤊ 0⤋
No. Sears cannot put a lien on your house and/or car.
2007-04-12 05:47:29 · answer #4 · answered by Fearless Leader 4 · 1⤊ 0⤋