Posted on: 20th Jul, 2009 06:34 pm
Every time I find a answer it is diferent. Are the unsecured credit card judgements will go against he house you own? If so how could be avoided?
Thanks
Thanks
Hi Guest,
The unsecured debts are not secured by any collateral. So, most people think the credit card companies cannot take away homes, cars or any other personal assets. But as far as I'm aware of, they can take your personal possessions, even though they are not kept as collateral. The creditors can sue you, get a judgment against you and take away your house, cars etc. The best way to avoid such scenario is, to negotiate with the credit card company and settle the debt.
The unsecured debts are not secured by any collateral. So, most people think the credit card companies cannot take away homes, cars or any other personal assets. But as far as I'm aware of, they can take your personal possessions, even though they are not kept as collateral. The creditors can sue you, get a judgment against you and take away your house, cars etc. The best way to avoid such scenario is, to negotiate with the credit card company and settle the debt.