Legal Question in Credit and Debt Law in Missouri

quitclaimdeed

if i loose my job and can't pay my credit card bills can they come after the equity in my home


Asked on 5/07/08, 4:51 pm

1 Answer from Attorneys

Michael R. Nack Michael R. Nack, Attorney at Law

Re: quitclaimdeed

First of all, it's "lose" not "loose". In response to your question, any creditor, that does not already have a security interest in your property or lien against your real estate would have to sue you and obtain a judgment against you before taking any action against your home (or your equity in your home.) If the judgment was in the circuit court or transcribed to the circuit court it would serve as an automatic lien against the real estate. I suppose that it would be possible for a judgment creditor to execute upon real property and force the sale of your home to get at your equity but it is not likely to happen unless the debt is fairly substantial. If you do get sued, I would definitely advise hiring an attorney.

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Answered on 5/10/08, 9:19 pm


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