Credit card collections

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Credit card collections

I understand that a credit card co can go to court and recieve a judgement that serves as a lien against my property. Can I be forced to sell my property or does it mean that in the event that I sell my property, they will recieve the proceeds from the sale?

Asked on June 22, 2009 under Bankruptcy Law, Illinois

Answers:

Ben Schneider / Schneider & Stone

Answered 11 years ago | Contributor

Any creditor that attaches a judgment to your house has the right to foreclose if that judgment is not paid. You could be forced to sell your property to satisfy the judgment and you will then recover any equity left over. If you have a judgment attached to your house, you may want to consider consulting an Attorney to help deal with it, there are solutions to the problem that do not involve selling your house.

Ben Schneider / Schneider & Stone

Answered 11 years ago | Contributor

Any creditor that attaches a judgment to your house has the right to foreclose if that judgment is not paid. You could be forced to sell your property to satisfy the judgment and you will then recover any equity left over. If you have a judgment attached to your house, you may want to consider consulting an Attorney to help deal with it, there are solutions to the problem that do not involve selling your house.


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