I have received 3 notices on 3 different credit card accounts that I cannot pay. I have received a notice on all 3 accounts from attorney firms that collect debt. All of these accounts are in my name. None of these accounts are in my wife's name. I live in the State of California. Can these creditors place a lien on our home if the home loan is only in my wife's name?

I hired a company that stated they could zero out my debt through letters. I have followed their plan and everything they said would happen has happened. They stated that I should refuse to go to arbitration. Once the judgement is on my credit I can get it removed since I refused to attend arbitration. I am afraid I have trusted a company that has put me into grave danger.

First, it doesn't matter who's name is on the home loan, only whose names are on the deed. If your name is on the deed, they might be able to file a lien. However, most states don't permit filing a lien against a primary residence for unsecured debt. Even if they do file a lien, they can't force a sale. They have to wait until the home is sold.

As to this company, I don't know anything about it. I don't think a refusal to USE arbitration is out of line, but just not showing up at an arbitration hearing is a mistake. If you are not there to defend yourself the other party wins.

Quote:

---

Originally Posted by cplumb71

They stated that I should refuse to go to arbitration. Once the judgement is on my credit I can get it removed since I refused to attend arbitration. I am afraid I have trusted a company that has put me into grave danger.

---

Hello c:

Maybe... and maybe not... You didn't finish the story. I'm just curious as to what technique they're going to use to remove a judgment. Especially since, once they have a judgment, they go immediately to your bank to TAKE the money. What do you care if they get the judgment removed IF ALL the money is gone?? There's no court that will stop them. No credit bureau is going to stop them. I don't care where you have your money locked up, a judgment is a KEY. They must have told you, or if they didn't, I would ask them. Actually, I would have asked a lot sooner, but that's just me.

IF you determine that this company is scamming you, I don't think it's too late to reach a settlement agreement. Although there's no arbitrator to TELL them to accept a deal, if you make a good enough offer, they WILL accept it. Of course, I'm talking about a CASH offer. They're not interested in payments.

excon

PS> What is this company supposed to do for you, if their efforts wind up with you being sued?? You evidently think being sued is PART of their plan.

California is a "joint property" state, so even if the home is only in your wife's name, you still own half of it. So in that respect, yes they can still attempt to place a lien on your home. Which will mean nothing to you until you try to sell it or refinance it. If the lien still exists then, you will have to pay it.

However, excon is correct. They will likely go after your assests first, and a judgement is a key into your bank's vault. So either you need to start burying your money in mayonaise jars in the backyard, or settle with them.

As far as the company you're working with, it sounds like a Consumer Credit Counseling Service. Many of them do a very good job at being a middle man between you and your creditors, keeping everyone just happy enough not to get overly silly in the repayment terms. Usually they offer reduced payments to the creditors, having you send them one payment each month, that they divide between those you owe. I would check with the State Attorney General's Office. They have a list of companies that offer this type of credit repair, and they can tell you if you're dealing with a legitimate company or a bogus one. Important to know...

Good luck to you.