0
There are legal loopholes where nothing can be taken from you. Things like cars and houses, televisions, mobile phones, fridges and home computers are among the things nobody can ever take from you unless you foolishly and willingly give them up. These items fall under the category of necessary items you can not do without and if you declare bankruptcy, you can also have the credit card company write you off as a tax loss and they can claim it back from the government. This, of course, depends on the laws of your country and how far they are legally allowed to push you.
The problem with bankruptcy is that you will be forcing yourself to be blacklisted from credit companies and banks for a few years. It is quick escape from problems, but a huge risk for your financial future.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Can a credit card company put a lien on a house that you own with another person or by yourself to try to collect their money?
It depends. Some credit cards come to you as equity loans (you activate the card, it gives you a limit on the card equal to the equity on your house) and if you don't pay off the loan, the house belongs to the company. If it is a regular credit card and you don't pay, they may take you to court and win a judgment against you. That would allow them to put a lien on the house in the amount of the judgement. So, to answer your question, yes, there are ways that a credit card company can put a lien on your house.
Can they take your house if you do not pay your credit card?
Only if the credit card an "equity line of credit" which is secured by a second mortgage on the property. But then, if her name is not on the house, she couldn't have used it for security on the credit card, so NO.
How do you get a credit card 'Closed' on your Credit Report for a company which is out of business to reduce your available outstanding credit?
I would dispute it with the credit card companies and once they will have to take care of it or will either not be able to contact the company and therefore have to take it off.
If a credit card company has a judgment on you in Tennessee can they take your home if you own it?
no,,,,,,but they can put a lien on it,,,and when you sell your house,,it has to pay the lien amount,,,before you get any money from the house.
What happens if credit card dues are not paid n credit card company sues you?
they will take your money and repossess your belongings
Can a credit card company put a lien on a house that you own with another person or by yourself to try to collect their money?
It depends. Some credit cards come to you as equity loans (you activate the card, it gives you a limit on the card equal to the equity on your house) and if you don't pay off the loan, the house belongs to the company. If it is a regular credit card and you don't pay, they may take you to court and win a judgment against you. That would allow them to put a lien on the house in the amount of the judgement. So, to answer your question, yes, there are ways that a credit card company can put a lien on your house.
Can they take your house if you do not pay your credit card?
Only if the credit card an "equity line of credit" which is secured by a second mortgage on the property. But then, if her name is not on the house, she couldn't have used it for security on the credit card, so NO.
Can a motorcycle purchased on credit card be repossessed?
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
How do you get a credit card 'Closed' on your Credit Report for a company which is out of business to reduce your available outstanding credit?
I would dispute it with the credit card companies and once they will have to take care of it or will either not be able to contact the company and therefore have to take it off.
If a credit card company has a judgment on you in Tennessee can they take your home if you own it?
no,,,,,,but they can put a lien on it,,,and when you sell your house,,it has to pay the lien amount,,,before you get any money from the house.
Can a credit card company take money from your debit card?
Only if you have authorized them to do so.
What can credit card company take if you don't pay?
They have to take you to court to take anything from you.
What happens if credit card dues are not paid n credit card company sues you?
they will take your money and repossess your belongings
Can a credit card company or debt collector take money from your IRA?
No they cannot
Can a credit card company take away or place a lien on your Florida home if you stop paying the 12K credit card balance and you are not a US citizen and live and work outside the country?
no a credit card company may not take your home away. a creditor can never take anything away if the debt is unsecured such as a credit card. regardless of what anyone posts here, credit card companies cant do anything whatsoever if you stop paying them. your credit is ruined and they call alot, but that's all they can do.
can a credit card company like capitol one who forward account to legal dept in state of california take garnish payments out unemployment if nothing can be resolve out of court?
You should not avoid paying the minimum due in your credit card account. The credit card company does not care if you lost your job. What you need to do is to speak with a credit consolidation agency in your area. Ask around about their reputation. The credit consolidation company will make a deal with your credit card company.
Can a credit card company take money out of your account without an electronic signature and without your approval even if you cancel the transaction?
Generally, no, unless you cancel the transaction after the fact. If you have made a payment to the credit card company and cancel after the time the transaction was made, yes, the credit card company may take money out of your checking/savings account. If you made some mistake when using your credit card which resulted in a fee or finance charge, the credit card company may put that amount on your credit card bill but may not take the amount out of your checking/savings account unless you specifically ask them to. If you have automatic payments set up, the credit card company may honor those instructions until you send them a WRITTEN request to change the setup. Most card companies allow you to bypass the written component and change automatic payments online.
