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Can a credit card company place a lien on real property (personal home)?

shane · Posted: Sat Nov 01, 2008 9:16 am Post subject:

The credit card charge-off can be turned into a judgment, which can be placed against the title of your home. It isn't a lien but it is something that a lender would require you to pay if you were to try and obtain financing afterwards.

gmakerley · Posted: Tue Nov 04, 2008 10:36 am Post subject:

actually, shane, any encumbrance placed on the real estate constitutes a lien. in this particular case, if the credit card company pursues a judgment in court, and that judgment is not paid as per the court's stipulaiton, the company could then file a judgment lien on the property, thereby guaranteeing its payment eventually (upon sale, likely).

of course, for your sake, zeke, you would want to settle this debt as quickly as you can, prior to the issuance of any judgment or the placing of any lien.

valleydrive07 · Joined: 08 Jan 2009 Posts: 3 1.85 Dollars($)

Can a credit card company place a lien on a spouse real property after a quitclaim deed is executed?

adonis · Posted: Thu Jan 08, 2009 11:55 pm Post subject:

Welcome valleydrive,

As far as I know, if a quitclaim deed is executed before the credit card company has filed for the judgment, then they cannot place liens on the property.

Guest

We have a quit claim deed which was executed prior to Capital One filing it's judgement however they did place a lien through the court on our property and, we are also paying $250 monthly from our bank account to Legal Recovery. They told us if we did not pay the monthly payment a marshall could come and serve my husband (who is not working) a garnishment of wages as well. Can they do all this?

gmakerley · Posted: Thu Aug 06, 2009 1:45 pm Post subject:

well they can't exactly garnish wages that don't exist, but that is how judgments work. if you cannot pay according to the terms stipulated by the court, they can send a sheriff after wages or bank accounts.

moresouthbayhomes · Joined: 12 Aug 2009 Posts: 6 3.18 Dollars($)

If Legal Recovery has correctly contacted the creditor and is currently making efforts to satisy the debts to Capital One, you should be okay.

Guest

I have a homeowner who cannot get a loan modification because they have three credit card liens against the property. Can the servicer consider those liens to deny them.

adonis · Posted: Sun Mar 21, 2010 11:28 pm Post subject:

Hi Mechelle,

I haven't heard of lenders denying modification due to credit card liens. However, in case the property is sold off due to non-payment of dues after modification, the credit card liens would have to be satisfied first.

Guest

If a credit card is unsered how can they put a lien on your property?

smithsussane · Posted: Mon Apr 12, 2010 11:39 pm Post subject:

Hi jlp!

Welcome to forums!

It is true that most credit cards and other revolving accounts are unsecured. However, a consumer may be sued within the statute of limitations period as per the state laws and also in accordance with the agreement that the card holder signs. If the court grants the judgment, the creditor will be able to place a lien against any real property, garnish wages and take any other action allowed by law.

Feel free to ask if you've further queries.

Sussane

riseabove · Joined: 09 Nov 2009 Posts: 277 11.01 Dollars($)

just because a debt is unsecured doesn't mean that the lender can't try and recover it in the event of a default. Secured loans are secured against specific assets, unsecured loans aren't but in the event of a default the lender can still come after you for the deficiency.

Guest

I was diagnosed with cancer Feb 2009 and since then I've been thinking that maybe I should add my finance to the house deed. We purchased the house two years ago together its only in my name because he's credit is bad from his previous marriage and divorce. If I add him would his creditors that he is still paying be able to put a lien on the deed? I think he even has a credit card write off that.

Guest

I was diagnosed with cancer Feb 2009 and since then I've been thinking that maybe I should add my finance to the house deed. We purchased the house two years ago together its only in my name because he's credit is bad from his previous marriage and divorce. If I add him would his creditors that he is still paying be able to put a lien on the deed? I think he even has a credit card write off that.

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Can a credit card creditor place lien on real property home