Posted on: 06th Dec, 2010 01:53 pm
I live on $532 SS mo. and own half of a house - I owe $33,000 in unsecured credit card debt. Can bill collectors file a lien on my house? Should I file bankruptcy - I'm 69 and in poor health.
Thanks
Thanks
Hi Guest!
Welcome to forums!
Your creditors will be able to place a lien on your property in order to recover their dues. If you've equity in your property, then you can take out a reverse mortgage. You can use the reverse mortgage proceeds in order to pay off your creditors.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your creditors will be able to place a lien on your property in order to recover their dues. If you've equity in your property, then you can take out a reverse mortgage. You can use the reverse mortgage proceeds in order to pay off your creditors.
Feel free to ask if you've further queries.
Sussane