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It is very unlikely they will or even can take your home. This is very true if you have a morgage on the home, first they would have to pay off the lender on your home then foreclose, under most conditions they can't forclose as long as you pay the lender on your home. Find out what your state laws are. If you live in a "Tenancy by the Entirety" state, you lucked out they can't touch anything that is in both names. Here are more answers and opinions from other FAQ Farmers: * They can get a judgment and place a lien on the house, which means if you ever sell it, then they will have to be paid. Check your state laws for how long such a judgment-lien will remain on the house. In my state, it's 10 years, and then they either have to renew their judgment or lose it. But remember that each time you make a payment on your mortgage, you're increasing your equity and thus creating a better chance that there will be enough equity (after your Homestead Exemption, whatever that exemption is in your state) for the creditor to get his money--or at least more of it. So if you sell your house before the lien falls off, much of the principal you've paid on your mortgage may go to the creditor who holds a lien on the house. Thanks to a Congress that cares more about getting campaign donations from big credit-card companies than about protecting people who've hit financial troubles, the creditors hold all the cards. * My mother is 83. Her social security and a small anuity pay all of her expenses. Her life savings is down to $11,00.00, which she is using to pay the minimum on her credit card bills. She owes $26,000 on her cards and her minimum payments are about $500.00/month. She will run out of money in about 6 months. What happens if she stops paying her cards or begins sending $50.00 a month?
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Can you lose your house for nonpayment on a credit card debit of if your house is paid off?
Not directly. They could sue for your assets, which would include your house though.
Can you lose your house if you cant pay unsecured loans or credit card debt?
no
What do you do when you lose your credit card?
Call the bank, and cancel that card before anything happens
Can you lose your house to credit cards in Virginia?
yes
What should i do when i lost your credit card?
If you lose your credit card or it is stolen you should report it to the bank that issued it immediately. There is usually a dedicated number for such occurrence's.
Will you lose credit if you replace your SIM card with another SIM card?
depending on what service you have. but most likely not
What should you do if you lose you debit or credit card?
Call your bank to block the lost card then visit bank and issue new card
Do you need to pay the Home Depot card if you lose your job?
In general, any debt you owe on any credit card is still payable if you lose a job.
Do you lose credit point when credit check?
If it was unsolicited (e.g. a credit card company looking into your finances to evaluate whether to offer you a card) then no. If it was authorized (e.g. your applying for credit, applying for a loan) then yes, this can negatively impact your FICO score.
Whats the first thing you should do when you lose a credit card?
1. Contact the credit card company immediately. tell them of the possible theft so that they may begin to monitor the account.
When you use a credit card on playstation network for money does the card lose money?
Technically no, normally a credit card puts things 'on credit'. Your bank is paying for the PSN credit. But you now have to repay the bank sometime. (Credit cards can be loaded with funds, that money would be spent if used in the above way, and you would not be in debt to your bank).
Can a credit card company garnish your wages in Iowa?
Yes, but only after you are sued, lose and have a judgement against you.
