Posted on: 03rd Jun, 2011 04:02 pm
I lost my job and now I owe on a credit card like 4000.00 . I have a house in NC not worth much but has a lean on it, I also have a property in virginia that does not have a lean on it. when I reply to the NC JUDGEMENT, do I have to list what is in another state, and can they take my home in virginia. it is a small working farm?
If the judgement is attached to your real property, then any real property you own or aquire can have the judgement attached to. If you sell or refi, the judgment would be paid at that time.
Hi charlie,
I agree with what the guest has said. If your creditor wants to recover his debts, he will simply sell off the property in NC which has a lien on it. He won't be concerned about your property located in Virginia.
Thanks
I agree with what the guest has said. If your creditor wants to recover his debts, he will simply sell off the property in NC which has a lien on it. He won't be concerned about your property located in Virginia.
Thanks
A creditor cannot "sell off" a property to satisfy a lien. What could take place is that the creditor could begin a foreclosure action, but why for $4000? I think it's a case of waiting until you sell the house, or transfer it in some other way, at which time they get their money.
I agree that they'd not likely know about, nor do anything about your home in Virginia.
I agree that they'd not likely know about, nor do anything about your home in Virginia.
How does it show on my credit report..
Charlie it'll show up in the Public Record section of your credit report as a judgment - the amount may or may not show up.