Can a lien be placed on a home or property for unsecured debt?

Question

In the state of Georgia, can a lien be placed on a home for unsecured debt (credit cards)?

Answer 1

You should consult your state bankruptcy laws for the most relevant information. I wouldn't imagine they could, as a credit card is not backed by a personal asset, it is simply a revolving line of credit. Typically, I would imagine that the lien could only be placed on your home for default on the mortgage, as that debt is secured by your home (asset).

Answer 2

The short answer is NO. There is no way for a credit card company to do this without a judgment. If the credit card company does sue you, it would take them winning the judgment, AND having the COURT agree to impose a lien. This is not common. Far more common, your wages would be garnished by a court mandated amount and time frame, to repay the debt and court costs.

It is very unlikely that a credit card company or a collector will sue for a balance. It would have to be a last resort and this takes years. Seriously, 3-4 years even 5 years if the debt is small. For large debts, say over $50K then you may find it move to collections a little slower, but move to legal action quicker. It will still take a year.

It is guaranteed the collector will threaten to sue. They will threaten many other things. In fact they will say anything to get you to hand over money.

They will usually not actually do much if anything, and they cannot put a lien on any asset until a Judge says so.

Answer 3

In order for a creditor to gain a lien on an asset, they would need to aquire a judgement against you and then file to lien your assets there is a full paper trail a hearing process for this to happen. The only lien that can just happen without a hearing are tax liens. Good Luck !!!

Answer 4

Yes, if the debt was high enough and the cc company could be assured of a payback.

There are also other legal steps the cc company needs to take before a lien is placed on your property.

Answer 5

Your home is security for a debt. So if the loan is unsecured, your home cannot not have a lien on it for that debt.

Answer 6

confident. The plaintiff could desire to checklist the judgment with the county recorder yet a judgment everywhere in the State of Georgia would be a judgment against all actual and private belongings placed in the state. § 9-12-80. equivalent dignity and binding results of judgments All judgments obtained in the extra beneficial courts, Justice of the Peace courts, or different courts of this state would be of equivalent dignity and shall bind all the valuables of the defendant in judgment, the two actual and private, from the date of such judgments different than as otherwise supplied for the duration of this Code.