If I go bankrupt can the Credit card companies put a lien on my home?
I just wanted to know if I went bankrupt can the Credit cards put a lein on my home.
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If your credit card accounts are included and discharged in your bankruptcy, then no they can not come back after the fact and file any liens on your home.
Probably. You need to read the fine print. Is it a unsecured credit card? Then no they can not. If it is a secured card then yes they can.
No they can not, depending on what chapter you qualify for, Chapter 7 or 11, you will still be required to repay the credit card companies part of the debt.
No one can place a lien on your personal property without taking you to court and winning judgment against you.
If you have a mortgage on your home the mortgage lender gets the first shot at it. If you own your home free and clear, you can sell it to pay your other debts.
in most cases you keep your home ,make sure you have an attorney that files your bankruptcy and he knows how to do it
The credit card co can put a lien on you. Just make sure when you speak with your attorney that you inform them of the lien. In most cases, it will be on your credit reports.
An unsecured credit card, even if they took you to court and won a judgment, they could seize your tax refund check or garnish your wages. They cannot put a lien on your house because then the unsecured card would be secured and you can only secure a loan at the time of the origination of the loan or if you later personally secured it with your property, such as a second mortgage.
If you are filing for bankruptcy, unsecured creditors are the last on the totem pole, so to speak, to get any portion of money from you. If it is a chapter 7, they may not get ANY money from you. Of course you should talk to licensed attorney in your state, because my info is mostly based on MI bankruptcy laws, and some states may allow a lien, but to my knowledge bankruptcy would absolve you from paying those debts,
Unpaid taxes, on the other hand, can lead to a lien on your home and those are treated as secured just as your mortgage is treated.