I stopped paying my credit cards. Does this mean a debt collector can take my house or my car?
That’s not exactly the way the process works. By law, if you owe a debt that has not been paid, such as a credit card debt, student loan debt, or unpaid medical debt, and you have assets, those assets can be taken to pay your unpaid bills. However, this process is not an automatic one. There are many legal steps that have to happen before your house or your car could be taken.
First, in order for a credit card company, debt collector, or another creditor to get your assets, they have to sue you and win the case. You are legally entitled to get notice of the lawsuit and a chance to defend against it. You may have valid defenses to their claims. They may not have proper records of your debt. The statute of limitations on collecting the debt may have expired. You may be able to make claims against them for violating your legal rights, such as if a debt collector harassed you.
If you ignore the lawsuit, or if you defend against the claims but you lose the lawsuit, the debt collector or creditor will obtain a judgment against you. The creditor can then use that judgment to put a lien on your house, seize your car, take money out of your bank accounts, or attempt to take your other assets in order to satisfy the judgment. Normally, if a creditor puts a lien on your house, the creditor only receives the money that is owed when the house is sold or refinanced. The creditor could ask the court for permission to force a sale on your home, but that is rarely done.
Before you start worrying about your unpaid bills and losing your home, you should be aware that for a creditor to sue you over unpaid debts, and then to put a lien on your home, is unusual. The debt collector must hire an attorney and pay for court costs for the lawsuit. In most cases, the debtor does not have any assets to cover the judgment, so the debt collector does not bother. This is especially true in situations where there is little or no equity in the home.
If you owe unpaid debts, like medical debts, credit cards, or student loans, and you are worried about a debt collector attempting to seize your assets, the best course of action is to make a plan. You may choose to file a Chapter 7 or a Chapter 13 bankruptcy. This could help wipe out some of those debts, or make the payments on the debts more manageable. You may be able to settle the debt directly with the creditor. The creditor may be open to setting up a payment plan. Many people who are past due on their debts try to ignore the problem and hope it goes away instead of letting the creditor know what is happening and working with the creditor on a solution.
If you are worried that a debt collector may come after your home, call the Atlanta bankruptcy attorneys at Holston & Huntley, LLC. We can help you figure out a game plan that will work with your situation. You may consider a Chapter 7 or a Chapter 13 bankruptcy, or another option may be better for you. Call us today at 1-888-513-0004 to learn more. We serve Metro Atlanta Georgia as well as Birmingham Alabama including surrounding areas.
I just wanted to say thank you to the entire company,throughout my entire incident they worked fast and diligently.They always called,texted and or email me to keep me updated.They always showed great gratitude and always kept me informed. Everyone on this team is awesome.I will definitely recommend anyone here for your injury and/or bankruptcy needs.They will make sure you get the respect and the money you need. Thank you and the whole team.
I would highly recommend Holston and Huntley. The staff in the office are very nice. Abena was a big help she is the best!! They are very helpful and get everything done in a timely manner. My experience with the firm was GREAT!
Miss Abena is the best, they are working on my case now ,I just love them always kept it 100000000 and I feel like family
I had an excellent experience with Holston and Huntley. My case/medical expenses were treated with the upmost care and efficiency. I recommend anyone with any type of accident injury to visit Holston and Huntley. Abena Campbell was extremely helpful and made everything convenient and comprehendible about the my case. She was made everything easy as possible. I definitely recommend Ms.Campbell to take of you.
You can count on Buddy and Abena they are awesome. Abena was wonderful, she showed concern for me through my case. Abena walked me through this process like she knew me a long time. I promise you I felt good knowing I was being guided by someone who really cared their staff is awesome. I give them a 10+. Thank you guys, Especially, Abena
My experience with Holston & Huntley attorneys was nothing short of excellent. I worked directly with Abena. She worked hard to get the settlement that I deserved. Continued to stay in contact and keep me updated throughout the long process. Would recommend and work with them again. Thanks Holston & Huntley!
Attorney Huntley and his entire staff was instrumental in getting me everything I deserved. Their patience, kindness, and loyalty to fight for my needs at a critical time proves why they are such a fantastic firm. I would highly recommend them for any of your needs. I personally, will call Mr Huntley if I’m ever in another accident.
I was never anxious despite being in this situation for the first time and all the credit goes to you and your firm because you care and know what you are doing.Thanks.
I don’t usually leave reviews on anything but I thought I needed to share my experience with Holston & Huntley. It was great! Very quick and efficient. Buddy and his staff were awesome. I personally worked with Abena and she was always available to answer any question I had. I highly recommend this firm to anyone who needs a professional lawyer that would fight to get you the best settlement you deserve. I promise you won’t be disappointed!! Thank you, Buddy, Abena and staff for all of your help.
Holston & Huntley entire team was great to work with!!! Thank you so much
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