Im 58 and had great credit all my life, I been in the hospitial with a bad heart and got behind on my credit card. I am now on permanet disability, my income is only ssi and a few hundred from long term disability. I am 25k in credit card debt beeing unsecurd debt can they still take my home, which I am a co owner in, The home has been recently remorgaged to its full value. the credit card co wont even talk to me they give me to there credit collection co, they tell me just file bk even though I am only 60 days behind. It makes you feel like theres no hope. Tommy
Most States have Homestead laws which may exempt and/or prohibit a DCs from attaching liens or garnishments to certain items of property or income, your primary place of residence (Home) is usually one of them. Based on what you've said your Income is also exempt per federal law. If you can not pay your credit card debt DCs can do little but write the unsecured debt off and close the files. However, even if you are judgement proof, this will not stop them trying to collect these debts. In fact, any DC who purchases these accounts may be more aggressive in their collection efforts because they know that unless they get you to voluntary pay, there is little they can legally do to collect. I strongly suggest that you sit down with local Attorney and go over the situation with him/her.
