I got a civil summons from a CC company for an amount of 5800.00 of debt I can't pay. Can they take my home?

Question

Or money if I sell it?

Answer 1

they can't take your home, but they can put this as a judgement on your title. Which means you can't sell until it is paid.

Answer 2

If you dont pay your debt, whether it be that you wont or cant, then this CC Company could and probably will take things of yours that have a value equal to or exceed that of $5800. Generally though it is at the courts discretion how much you really owe them...you were summoned over $5800, but if the court finds necessary they can decrease or increase that amount.

Answer 3

First and foremost how old is the debt? If it is past the statute of limitations usually around 4-5 years (check your state rules) then let them take you to court but show up and your defense is it is past the SOL. Case closed in your favor. But before that ask them to prove in writing that it is yours, deny the debt without proof they then have 30 days to prove that it is indeed yours. Do not repeat do not admit that it is yours when they call have them prove it first. Then when you have the dates you can see if you are past the SOL. In the event you do lose (always show up for the court or you lose by default) no this was an unsecured debt they cannot take your home, if they win the court they can garnish your wages etc bu that is about it.

Answer 4

They cannot take your home, but the summons is to let you know that a court date has been set for the judge to make a determination how much they can garnish your wages, and they can take a lien out on your house that will need to be paid before it is sold. They can take up to 25% of your earnings on every check. I would issue an answer to the court and try to talk to the lawyers to see if you can make a payment arrangement.

Answer 5

First they will get a judgement. Then it would be in your best interest to arrange a payment plan. If you dont do this, they will force you into court again and make you list your assets. If you lie, they will put you in jail at that time(and believe me, they will research into you to see if you own a home, bank accounts and whatever) Then what they will do next is up to them. They can sieze yoru bank accounts, garnish your wages, (or if you really pissed them off force you to sell your home) Now you dont want a forced sale of your home because lets say your home is worth 100,000 and you owe 70,000 on it. They can sell it for 80,000 for a quick sale and give you the 4200 left over (although they will probably make you pay the closing costs, so you will probably get nothing)

So you really really need to make a payment plan, refi your house if you have to to pay them, or borrow the money now to pay. Soon as they get the judgement, they will be adding interest.

330 per month would pay that debt off in 2 years. Cut your costs by getting rid of internet connection, get rid of your cell phone, eat rice and drink water (works well for 1 billion chinese) and that will cut your monthly bills by about 330. (1 months supply of rice can be bought for about 40 dollars)

Another way is you could sell your car to pay the debt. You would save at least 100 per month in gasoline and another 100 in auto insurance + you save the environment.

Anyway...if you cut back on whatever you are spending now, you will find a way to pay.

Answer 6

They can put a lien on any property that is yours.