Property Leans

[SMORGAN1]

What is the name of your state? TEXAS
I'm very concerned about a debt I have wherein the Finance Company has made threats about putting a lean on my property. Here's my story. I have a new home, we purchased a water purifier because we thought it would be a good investement for the plumbing in our home. Six months after we moved in my husband died. I had only enough insurance money to cover his funeral expenses and no credit life on my home. I spoke to an attorney and had it explained that I should pay the essential bills and in short terms, forget the others. I paid this particular bill for about 3 months and then found that I simply couldn't handle the $114 payment. The company has no need for the product back and told me I could "set it in the street" but I would still owe the money. I tried to work out payment arrangements with these people, I told them that I could work with $45 a month and that I would mail it to arrive by the 15th of each month, naturally they wanted my bank account so they could atuomatically draft the money, I said no, reluctantly I agreed to send 3 post dated checks 3/15, 4/15 and 5/15, guess what, they cashed all of them and when I made a fuss they told me to "overnight" copies of the front and back so they could see the error, three checks in one envelope, come on, where did it become my place to prove their mistake! Anyway now they want me to sign a new contract that would be in my name only, they want $75 a month and the first payment in April. I told them no, you got payments for three months, I can't pay anymore until at least the 15th of May and then only $45. They agreed, send me an overnight package with a new contract for $75 a month first payment to begin the 15th of April and they reduced the interest to 10%, I'm suppose to get excited about the $75 becasue they reduced the note by a $1000. I don't want to be disagreeable, but I can't handle $75, I appreciate the percentage reduction, but I can only do what I can do. Can these people put a lean on my property, and if so what does that mean? Do I have to sign another agreement and if I send only $45 do they still have grounds to mess with me legally? Can they sue me and if so what does that envole? Really lost, please help!!!!

[Ladynred]

They can't put a LIEN on ANYTHING until they sue you and win a judgment FIRST. Then and ONLY then could they even think about putting a lien on your home.

Second, TX has a 100% homestead exemption, they may not be allowed to put a lien on your home at all, check with your lawyer. JetX would know for sure, he's in TX and our resident TX judgment expert

If you don't get any agreement in writing, its not worth squat, but if you can't afford what they're demanding, no way I'd agree to it. Why set yourself up for an obvious fall - again ??

Don't negotiate with these people on the phone, put everything in writing.