Can Credit Card Companies/banks Take My Home?

What is the name of your state?I have taken all possible steps to pay my credit card depts off. I have worked with all the banks for 9 months with payments, but no longer have income. If I default on payments, can the banks place a lien against my house, and can they force me to sell? Or, is their preferred method of debt collection to garnish?What is the name of your state? North Carolina

[cmorris]

Originally Posted by fatcatsam

What is the name of your state?I have taken all possible steps to pay my credit card depts off. I have worked with all the banks for 9 months with payments, but no longer have income. If I default on payments, can the banks place a lien against my house, and can they force me to sell? Or, is their preferred method of debt collection to garnish?What is the name of your state? North Carolina

Banks have no authority to place a lien on your house. You would have to be sued first, have a judgment granted, and then a lien could be placed on it. But they can't force you to sell.

Doubt they will garnish your wages:

Wage garnishments are legal in North Carolina if a North Carolina court or federal court issues a court ordered garnishment for specific items such as, but not limited to, taxes, student loans, child and spouse support, and payment of ambulance services in certain North Carolina counties. The North Carolina Wage and Hour Act (WHA) recognizes legal garnishment court orders in N.C.G.S. 95-25.8(1): "An employer may withhold or divert any portion of an employee's wages when: (1) The employer is required or empowered to do so by State or federal law, ..."

Generally, wage garnishments by banks and loan institutes for car loans, credit card debt, and other personal debt items are not legal in North Carolina. However, there is an exception to this rule if the North Carolina employer of the employee in question has locations in both North Carolina and the state that the garnishment order was obtained in.

Source: [URL=http://www.nclabor.com/wh/garnishments.htm]http://www.nclabor.com/wh/garnishments.htm[/URL]

I recommend you visit [URL=http://www.creditboards.com]creditboards.com[/URL] for more advice. Whatever you do, do NOT go to "credit repair" place. They are mostly scams.