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Roger, Attorney
Category: Legal
Satisfied Customers: 31672
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I live in Georgia. I have a gh credit card debt from

Customer Question

I live in Georgia. I have a high credit card debt from updating my business. I should have did a business mortgage so I could have counted off the interest but I though I could pay it off quick and it's taking longer than I thought. If for some reason my business suffers a loss and I could not pay my credit cards, can the card companies go after my home or real estate that has no mortgage? If I put my home and property(land) in 50% my wife's name would that keep them from selling it if I could not pay them?
Submitted: 1 year ago.
Category: Legal
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

If the creditors sue you and obtain a judgment against you, they can then file a write of execution and lien your property....including real estate.

Expert:  Roger replied 1 year ago.

Also, if you make the transfer of property after being sued --- or in anticipation of being sued --- the creditors can reverse the transactions under the fraudulent transfer act and attach the property/liquidate it to pay the judgment.

Expert:  Roger replied 1 year ago.

If the debt/creditor collections becomes unbearable, then you could file chapter 13 bankruptcy and keep your secured debts and most property and get rid of unsecured debt.