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bluebirdbel · Joined: 03 Nov 2009 Posts: 1 1.41 Dollars($)

I became disabled from my teaching job in December of 2008. I was contributing 2/3 of our income. One thing we could not do was continue paying off two old credit card bills in my name only. Now one of them has turned my debt over to some other company. I got my first harassing phone call today (from this company) and he said they could get a judgement against my home. We owe less than $60,000 on a $135,000 home. I have sought legal advice, and been told I have too much equity to fine for a Chapter 7 and that credit card companies could come after my home. Is there anything I can do to protect it? We are up to date on our mortgage.

smckaybiz · Posted: Tue Nov 03, 2009 7:43 pm Post subject:

Welcome to the forums bluebirdbel!

What kind of balances did you have on the credit cards. Unless it is an extremely high amount I don't think they would go as far as trying to get a lien placed on your home.

Have you ever considered taking out a 2nd mortgage to consolidate all of your current debts? With rates as low as they are you may be able to simply disolve those two credit card payments in with your other bills into one fixed low rate loan.

raymond · Posted: Sat Nov 07, 2009 4:13 pm Post subject:

>>Is there anything I can do to protect it?

Yes - you should file for chapter 13. That'll enable you to save your home and dismiss the credit card and collection companies. Do it before Judgements are filed against you.

Guest

What is chapter 13?

jameshogg · Posted: Sat Jan 16, 2010 12:18 am Post subject:

Hi blueeyes,

You can check out the given page to know about Chapter 13:
http://www.mortgagefit.com/bankruptcy/chapter13.html

Thanks

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What can I do to protect my home against creditors (credit cards)?