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Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 36980
Experience:  30 years in civil, probate, real estate, elder law
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Liz, owe amex 68,000.00. I am in CT They are going to take

Customer Question

Customer: liz , owe amex 68,000.00. I am in CT They are going to take me to court, I am on disability so the only thing they could attach is my house. House is in my husband and my name, if I never pay off lien how much can they keep attaching to house
JA: Thanks. Can you give me any more details about your issue?
Customer: Owe Amex 68000.00 offered 35000.00 to settle, they sais no, I am getting summons to court.
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Submitted: 11 months ago.
Category: Legal
Expert:  Ray replied 11 months ago.

Hi and welcome to JA.Ray here to help you today.

You have a couple of options here.You could quitclaim your interest to your husband and they cannot lien it with a judgment.That would avoid any problems with them trying to force a sale.If you own no real estate no lien attaches.

They can sue you here for full amount plus legal fees and costs and it can add up pretty good here.

The other option is to keep negotiating.Threaten Chapter 7 if they don't accept your counter offer. Maybe $40 k here if you can swing it.Honestly that would still be a great deal here.

These are your options as I see it. You could file Chapter 7 in say six months after you quit claim the house to husband if you want to discharge the judgment as part of that.

Another suggestion if you have these funds in the bank consider getting a safety box and going off the grid.

You might loose interest but its so low these days and then no one know you have any assets.This makes you look poor if they run credit checks.

I appreciate the chance to help you today.Please let me know if you have more follow up.

Customer: replied 11 months ago.
We have 2 rental houses so how does that play into this.
Customer: replied 11 months ago.
Also if they lien my house which is in my husband and my name and the lien accummulates interest, how much can they take out of value of house say it is worth 250,000.00
Customer: replied 11 months ago.
Should i quit claim all houses over to my husband, won't they know this and come after me for it. Also if i did do that I have no money then so what kind of judgement could they settle against me, I would have no money other than my SS disability check
Expert:  Ray replied 11 months ago.

Here if they have a judgment it only liens property in your name.Transfering the property here makes it real hard if not impossible for them to collect as it does not line the property.

Also if you look poor here--no assets minimal amounts in bank it is unlikely they sue you since they cannot collect it.Doing this now is a good idea to protect yourself both from getting sued and then them collecting it.

Thanks for your patience and the chance to help today.