neogriff
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Not unless the debt was secured on your home, which credit cards arent. |
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OriginalBubble
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No. Not unless you secured the borrowing on your house. |
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dances with unicorns
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No; your house was not security for your credit cards (presumably). The usual result for failure to pay credit card debt is a report to the credit bureau, which will lower your credit score. |
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harpatel
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No, never. |
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Resume Expert
 |
It actually depends on which state you lived in. Generally, they will not repossess you house first. They will make it miserable for you my doing a writ of seizure. If you still don't make payment, they will then do an auction to sell off all your stuffs to the highest bidder. Your family will go bonkers. Your kids and wife will go hysterical. Don't mess with them.
Try to talk to them about your situation, on the other hand, forget about taking 2 or 3 jobs because that will give you other problems...related to burn out and health.
My suggestion is to visit www.clickbank.com and learn how to be an affiliate marketer. Tell your friends your situation. Rather than asking them to borrow you money, recommend them products and make commissions out of that. In that way, you kill two birds with one stone.
Alternatively you could also invest in a professional resume so that you stand to make an extra $500 - $2,000 by getting a better job by joining Fortune 500 companies.
Regards,
Edmund Ng
CEO, Founder
Infinique Technologies
http://www.purchaseresume.com
The No.1 Professional Resume Provider with 200% Money Back Guarantee.Guaranteed Job Interviews with Fortune 500 Companies. |
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tattooedgray
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I think that your home can only be repossessed if the money borrowed is secured on it! i.e Mortgage, secured loan etc.
Not paying credit cards will result in bailiffs who will remove the houses contents! Rather than you being homeless, you get to keep the bricks and mortar, just have nothing to put in it! |
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Fudgie
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yes...depends on the card company |
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des10euk
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No It Can't, and in fact whilst they threaten all manner of punishments, other than a bit of harrassment, they are unlikely to do anything.
If you owe money to them and can't pay then next time they contact you tell them to take you to The Small Claims/County Court. 1) The court will help you by setting repaykments at a reasonable amount, as little as £1 a month! and 2) the credit card company won't take you to court. They might sell the debt on and someone else will try but in the end they can do nothing. Bailliffs cannot take goods without the case first having gone through court. That court process is not scary should it happen and if you have to go through it take a friend with you. You will be helped by the court, trust them, they don't like credit card companies giving more and motre credit and then crying when they get their fingers burned. |
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splendid
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YES YES YES
What u need to do is buy a tent on ur credit card and live in the country |
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keoni_21
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If your that far in debt and that far behind paying they may be forced to have your assets(evreything you own) liquidated(sold) depends what the law is and the credit card policy i suppose there's always chapter 14(?) i think that's the chapter you file for protection from creditors |
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shop_four_you
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yes |
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BigBoy
 |
No.
things can only be reposessed if they are secured against a loan - such a s a car on a car loan, or a house against a mortgage, or a loan against a sofa.
be careful though becasue if you get into too much debt trouble and the credit card company takes you to court the court can appoint a baliff to recover costs - they can enter your house and take anything belonging to you to sell at an auction - they cant take your house though and they cant take anything that is on another loan as that does not belong to you
go to your bank and see a financial advisor if your having trouble - not paying your credit card bills will wreck your credit rating and you wont be able to get credit in the future! |
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♥Lexi♥
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I think it can, bayliffs take pretty much anything of you these days. Get them cards paid of matey!! |
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amanda
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No. Credit cards are not secured. Stop spending more than you can afford. |
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kj
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they can put a charge on yr property. why not contact the credit cards involved and come to some arrangement anyway they are normally very good at agreeing a reasonable repayment plan |
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catlovesme
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If you owe more than your house, maybe? Im not sure. |
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Furball
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Credit card balances are considered unsecured debts so your house cannot be taken away. Only debts specifically secured against your home can lead to this situation.
Go to your local Citizens Advice Bureau and ask them to help you sort out your finances. |
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Loganathan Raja Rajun R
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I am surprised there are So many fools living in America and still becoming a slave to the credit card culture.
To the best of my Knowledge (American laws well studied) there is no law which can allow a credit card company to take over ur house or things in it.
Go Rush Consult a lawyer and give the credit card aompany run for its money. Make their life miserable. U Can If u think with a lawyer in hand. Do not waste time. |
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Evo
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Not your house - but its contents. Don't take not s*hit of bailiffs either. Change your name. Change your address. ***** it - get as much credit as you can, beg, borrow & steal and start a new life in Brazil! Bring on the brown dancing girls and white dancing powder! |
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