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Question

I have a credit card and I owe 17K on it - behind in payments 4-6 months. I have investment Florida rental properties. Can credit card company put Judgement on property? My home in homesteaded. If so What can I do to protect rental properties? Corporate? I can't afford the HUGE min. payment. Loss of income. Can't make payments. Thanks

Submitted: 24 days and 16 hours ago.
Category: Legal
Value: $18
Status: CLOSED
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State/Country relating to Question: Florida

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I have a small business corp. That is not doing much (new). Rental Income is not steady.

Accepted Answer

It can put a lien on investment property. It can also pursue other assets including wages and bank accounts. consider working out a settlement.

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Expert: INFOLAWYER
Pos. Feedback: 97.0 %
Accepts: 
Answered: 10/29/2009

Lawyer.

Licensed attorney helping individuals and businesses with their legal questions

24 days and 15 hours ago.

Reply

what is the benefits to put property in corporation.

Posted by INFOLAWYER 24 days and 15 hours ago.

Answer

A transfer can be voided but a creditor may not notice the transfer.

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