Can Credit Card Companies Put a Lien on Your Home?
AuthorAmanda Dodge. Date:
Several risks come with not paying your credit card bills. You may accrue late fees and interest that further increase your debt, your credit card company may send your account to collections, and you may have a damaged credit score – making it harder to secure loans in the future. One option that creditors have is to put a lien on your house, which is a legal claim to your property. The creditor will use the profits from the sale of your home to pay off the debt you owe. Credit card companies usually will not directly put a lien on a house – that is more common with banks seeking home loan repayments. However, they may do so through legal proceedings. This guide will answer if credit card companies can put a lien on your home and what that process looks like. Use this information to protect yourself and … Continued
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