Have you ever had an unsecured credit card company place a lein on your home for an unpaid balance or is this just some tactic that the collection agency is using to scare the consumer? Or have you known someone who had this experience? The balance they are quoting is substantially more that it had been a year ago.
2007-07-24 14:40:09 · 3 answers · asked by Cinnamon girl 3 in Business & Finance ➔ Credit
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2007-07-24 19:12:14 · answer #1 · answered by eva j 1 · 0⤊ 0⤋
No credit card company can place a lien on your home unless you have prevously signed and authorised it. Another way is the credit card company go to court and obtain a judgement provided you need not answer to your court order. Collection agency is not authorised to enforce any lien on your home. The balance is high because they added interest and their fees to it. This also depend whether your credit card agreement stated that.
2007-07-24 21:45:10 · answer #2 · answered by bobbytanbt 3 · 0⤊ 0⤋
I think they mean they will sue in court and if they get a judgment then they can put a lien on property for the unpaid judgment .
Although they can't put a lien on your home directly ,
once they get a court order , then liens can be done if the defendant does not pay the court ordered amount .
2007-07-24 21:46:03 · answer #3 · answered by kate 7 · 0⤊ 0⤋