In Virginia can a home be seized by creditors to pay off credit card debt.?
Saturday, October 31st, 2009 at
3:24 pm
Tһеrе аrе provisions іח tһе state code fοr filing a detinue form fοr tһе sale οf property tο settle debt аftеr receiving a judgment аחԁ posting a lien. Iѕ tһіѕ legal tο bе used bу credit card companies? I ɡеt lots οf conflicting info οff οf tһе web.
Possibly Related Posts:
- Sued by Credit Card how much should i settle for? HELP@!@!?
- Due to gambling problems is there a way to stop CC companies from issuing credit cards to my spouse?
- Would it be worth paying off credit card debt?
- Anyone know a way to pay freelancers with a credit card?
- Should I build an emergency fund while simultaneously trying to pay off credit card debt?
Tagged with: Credit Card Companies • credit card debt • Credit Debt • Creditors • Judgment Lien • Provisions
Filed under: credit card debt
Like this post? Subscribe to my RSS feed and get loads more!
A filing of Warrant in Detinue is used in small claims court to sell anything that has a value equal to the judgment or property secured by the debt.
The maximum allowed is for judgments up to $5000.
I doubt a court would let them sell your home as it no doubt exceeds the judgment, also, unless you have paid off the mortgage, you still have a lien holder who comes first (the mortgage company).
There are ways to fight back and you can read more in the link posed in the source area.
Hope this answer is of help to you
LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice