Hello
I am from Quincy, FL. I am at default in paying my credit card debt and I have no way of paying it. My creditor is now threatening me of taking my property (a small piece of land) which is jointly owned by my wife and I. The credit card company has no relation with my land. Except this land, I have no money or assets and we live in a rental home.
My wife and I bought that land after our marriage and it is jointly on both of our names only. My wife has no relation in this credit card issue (the card was solely on my name).
I heard that there is a law called Tenants by the Entirety. Does this law completely protects our land from being taken away by the creditor if he ever files a lawsuit and wins (or stopping him from putting a lien on the land)? I also have plans of filing for bankruptcy if needed. If I file for bankruptcy, can the land (or part of it) be taken away by the bankruptcy court or someone?
Thank you
Thermal
I am from Quincy, FL. I am at default in paying my credit card debt and I have no way of paying it. My creditor is now threatening me of taking my property (a small piece of land) which is jointly owned by my wife and I. The credit card company has no relation with my land. Except this land, I have no money or assets and we live in a rental home.
My wife and I bought that land after our marriage and it is jointly on both of our names only. My wife has no relation in this credit card issue (the card was solely on my name).
I heard that there is a law called Tenants by the Entirety. Does this law completely protects our land from being taken away by the creditor if he ever files a lawsuit and wins (or stopping him from putting a lien on the land)? I also have plans of filing for bankruptcy if needed. If I file for bankruptcy, can the land (or part of it) be taken away by the bankruptcy court or someone?
Thank you
Thermal