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    grapevinerunner's Avatar
    grapevinerunner Posts: 9, Reputation: 1
    New Member
     
    #1

    Aug 9, 2010, 01:33 PM
    What will they do to me?
    I have a credit card company wanting money from me on the unpaid balance of $21,000.00 I have lost my job where I was making good money, (( the company went under )) the job I have now until I find something better does not pay that well and I am way behine on a lot of bills. The debt collector or credit card company told me they could take my house from me,, is this true or not? The house is sort of old it is worth 72,000 and I owe 70,000 on it, Can they take my house and kick me out?

    Can anyone help on this?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Aug 9, 2010, 01:36 PM

    It is highly unlikely they can take your house, especially since someone else has a lien on it. They may be able to garnish your salary, attach bank accounts etc. once they obtain a judgement.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Aug 9, 2010, 05:31 PM

    First stop talking to them on the phone, make all contact in writing, you will see they will not make threats in writing.

    They will often threaten to put you in jail, to do all sorts of things.

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