QUESTION

I am 74 year old widow being sued by a credit card company. My only source of income is social security. I owe $55,000 on my home - can they take it

Asked on May 08th, 2012 on Debtor and Creditor - Ohio
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1 ANSWER

DWI Defense Attorney serving St. Louis, MO
Partner at JCS Law
3 Awards
Generally speaking, a creditor can place a lien on your home if you fail to pay a debt. In my experience, small creditors will not force a sale of your home. There are many factors that contribute to whether or not they could or would. One factor is the equity you have in your home. Some states have special homestead laws that protect homes from creditors. I suggest consulting a bankruptcy attorney in your area.
Answered on May 21st, 2012 at 7:20 PM

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