Florida | Credit and Debt Law
Legal Question
To Whom It May Concern:
Because of the current economy, I’m finding it hard to comply with my finances. I have an auto loan and I may have to turn it over to the finance company. The car owes much more than what it’s worth. My credit will be affected. Can they put a lean on my house?
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Legal Answer
I am assuming you live in your house. A creditor can put a lien on your house (homestead property), but they cannot make you sell the house to collect on the debt. If and when you sell the house (your home), the lien is enforceable. The lien acts as a cloud on the title so that you cannot convey the property without satisfying the lien.
An auto loan is a secured debt, and the bank may come to repo your car. See Bankrupcy for a way to delay that.
You should see an attorney who practices bankruptcy and foreclosure law to help you.
Regards,
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Sarah Grosse, Esquire sarahgrossejd@hotmail.com New Port Richey, FL 34655
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Legal Answer
See www.ConsumerLawyerHelp.com under garnishment. Go to www.ConsumerLawyerHelp.com for all your legal needs. Become a member of the site and receive a newsletter on the different areas of the law each month. To become a member, simply send an email to amjrpamail@aol.com and put in the heading “member.”
Thank you!
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Angelo Marino Jr. PA 645 SE 5 Terrace Ft Lauderdale, 33301
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