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    redroses02's Avatar
    redroses02 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Aug 19, 2007, 03:01 PM
    Credit card problems
    Hi, I'm new to this site, I hope some one can give me an answer,:~)
    My son is having problem with his credit cards, he has a lot of them
    And he is way behind on them, some of them have been turned in the C Bureau
    Will they put a lien on his home and if so what does that mean?
    Thanks in advance
    Redrose02 :o
    SnakeBite's Avatar
    SnakeBite Posts: 68, Reputation: 4
    Junior Member
    		  
    #2

    Aug 19, 2007, 03:57 PM
    Credit card debt stinks, especially if you don't have the money to pay them. The interest just keeps on adding up and up.

    To answer your question: There has to be a judgement for them to place a lien on his house. Creditors want their money, they don't want the house of the car. If he makes feasible payment arrangements, they will leave him alone. However, if he ignores the debt, you can bet they will sue him and then they can put a lien on his property -- house, car, etc...
    mr.yet's Avatar
    mr.yet Posts: 1,725, Reputation: 176
    Ultra Member
    		  
    #3

    Aug 19, 2007, 04:04 PM
    He need to make arrangement to pay these, now, and than cut up the credit cards and never get one again.

    If he fails to pay, they will sue for a judgment against him, attach wages, garnish accounts.

    Credit Cards are bad if not handled carefully.
    redroses02's Avatar
    redroses02 Posts: 2, Reputation: 1
    New Member
    		  
    #4

    Aug 19, 2007, 04:58 PM
    Bankruptcy and debt
    Thanks to the 2 who answerd my question, but I would like to know what does a lien mean in case it happens to my son, he doesn't have a computer
    Thanks
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #5

    Aug 19, 2007, 05:07 PM
    I have moved your question back to your original post, this way it will make sense to others reading it.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #6

    Aug 19, 2007, 06:40 PM
    A lien is an encumbrance on a piece of property that prevent the property from being transferred or sold until the amount of the lien has been paid.

    In most areas, a primary residence is exempt from having a lien placed on it for unsecured debt such as credit cards. Even if a lien is placed, it won't force the sale, they would still have to awit until its sold and their lien would be secondary to his mortgage.
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