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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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can credit card companies put a lein against my home if i cant

Customer Question

can credit card companies put a lein against my home if i can't pay them? What if I could only pay the interest on these cards, can they still put a lein against my home? I'm supporting my daughter (who lost her job) and i make very little money. I'm retired and work part time.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.
What state do you reside in?
Customer: replied 7 years ago.
I reside in North Carolina
Expert:  Ellen replied 7 years ago.


Thank you for your question. I am happy to assist you.

In order for a credit card company to put a lien against your home, they first need to file suit against you and obtain a judgment.

If you choose to file bankruptcy, the assets that you may retain in a bankruptcy depend upon the Chapter bankruptcy you file and the state exemptions.

As an individual, there are two types of bankruptcy available. A Chapter 7 and a Chapter 13. There are distinct differences in between a Chapter 7 and a Chapter 13 bankruptcy.

A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets that exceed your exemption.

A Chapter 13 bankruptcy is a repayment plan for an individual. It may require that you repay some of your unsecured credit card debt over a 3 -5 year period. However, you may retain assets that exceed your exemption.

Here are the exemptions for North Carolina:

I hope that the information which I provided was helpful to you.